Residential property prices are expected to increase by an average of 2% this year.
That's according to the Society of Chartered Surveyors Ireland who say housing output will have to increase by 8 percent per annum if Housing for All targets are to be hit by 2030.
Its Annual Residential review for 2023 revealed that new homes are only affordable to those on average incomes in Meath, Cork and Galway
Chair of the SCSI’s Practice and Policy Committee, John O'Sullivan, says house price inflation will stabilise in 2023.
"It's not viable in the long term that property prices increase year on year by 10% or more.
"There has to come a point where there's stability, and stability is probably good for the market place.
"Our report is expecting about a 2% price increase for 2023, and 1% of that will be in the first quarter."
