House prices rise a further 2%

Two new housing reports have shown house prices rose by a further 2% nationwide in the first quarter of the year.

The publications, from MyHome and Daft have also warned the number of units available on their sites reached new lows since the new year.

MyHome’s report shows a 12% rise year on year in national median asking prices.

Chief Economist at Davy, Conall MacCoille, says he’s noticed a very strained market outside the capital.

“We’re seeing probably the tightest market outside of Dublin in the rest of Ireland that we’ve seen over the past 10 years so overall more of the same really.

“We all understand the lack of supply, but it’s that strength of demand that perhaps people aren’t familiar with, a very strong labour market, the wage growth, very strong jobs growth, particularly in the highly paid segments that are driving the market on.”


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