Waterford City is the only area to have noted just a 1 percent rise in inflation rates.
That's according to the Irish Independent's 'How Much is Your House Worth?' Report.
The price of a three-bed semi detached home in Waterford City is 235 thousand euro.
Kilkenny and Westmeath are the only two areas with a lower inflation rate than Waterford.
Neither have noted any change in price over the last year.
The report states that the rate of property price inflation has halved in the last year.
Despite the decrease, Pat Davitt, chief executive of IPAV, says it's very difficult for first-time buyers with mortgages to compete with the market.
"Maybe just before the property sale happens, somebody goes to the owner or comes to the agent and makes a further higher offer to them, and that agebt has to go to the vendor with that higher offer," he said.
The term for this is known as gazumping and it is not illegal in Ireland.
"People can actually increase a price even though an agent might well have a property sold to first-time buyers," Pat said.
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