House prices rose by 8% on average over 2016 according to the latest house price report by Daft.ie
Daft are forecasting that prices will continue to rise in 2017 and predict a 10% increase over the next 18 months .
In Dublin Daft state that house prices in the capital rose by an average of 5.1% which was double the 2.7% rise seen in 2015 .
Outside the capital the rise was greater at 10.1% however this was a drop on the 2015 rise which came in at 13.1% .
The National average asking price for a home in the last quarter of 2016 was € 220,500 up from €204,000 for the same period of 2015 .
Prices continue to rise outside the capital due to the shortage of available property in Dublin with sharp rises reported in Waterford ( 15% up ) Cork (9.2% up ) ,Galway ( 13% up ) and Limerick ( 14% up ) .
House price inflation in towns and villages in Leinster is running at an average of 9% and at an average of 12% in Connacht -Ulster .
Meanwhile the First -time buyers Help -to-buy scheme opened today for applications.first time buyers can recoup up to €20,000 in a tax refund to put towards the cost of purchasing a property .
This scheme will stimulate demand in 2017 and unless supply starts to meet this new demand Dafts 10% rise prediction maybe underestimated and we could be looking at a price boom in all locations .
