House prices have risen by more than 12%

The national mean average for a house is now €276,000, jumping to €413,000 in Dublin

House prices have risen by more than 12%

House prices have risen by more than 12% in a year.

Inflation has accelerated to the fastest pace in two years, reflecting an increasing imbalance in supply and demand.

The latest figures from the Central Statistics Office show that there was a 3% increase over a single month between June and July.

This growth was double the rate of previous months and the highest growth in three years.

The national mean average for a house is now €276,000, jumping to €413,000 in Dublin.

The most expensive place to buy a home is Dún Laoghaire at more than €583,000, while Longford is cheapest at €95,000.

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