House prices grew by 8.5% in 2015
The latest house price figures show that prices increased in 2015 by 8.5%.
The national average asking price in the final quarter of 2015 was €204,000, according to Daft.ie, compared to €188,000 a year ago, and €164,000 at its lowest point in early 2013.
In Dublin, prices rose by 2.7%. However, outside Dublin, they rose by just over 13%.
Author of the Daft.ie report Ronan Lyons said the Central Bank rules have been more effective in Dublin.
"We have a growing population, but a pretty fixed housing stock. Not enough is getting built," he said. "That suggests that across the country any pressure is going to be upwards, and probably more outside Dublin where the Central Bank rules have really had the biggest effect."
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House prices rose by an average of 20.7% in Cork in 2015 compared to 14.7% in 2014, and by 19.7% in Galway compared to 16.3% in 2014.
In Waterford City the rate of inflation increased significantly, with prices up 18.6%, compared to 4.1% a year ago.
However, the most dramatic change in house prices has occurred in Limerick City.
A year ago, prices in the city were falling by 1.3% year-on-year, but in the last 12 months they have risen by 22.3%. Prices in the city are now back at mid-2012 levels.
The Daft.ie study also pointed out that the total stock of properties for sale is now at its lowest point in nearly nine years, with just over 25,000 properties for sale nationwide.
- Dublin City: €306,613 - up 2.7%
- Cork City: €227,196 - up 20.7%
- Galway City: €223,602 - up 19.7%
- Limerick City: €145,244 - up 22.3%
- Waterford City: €129,397 - up 18.6%
Additional reporting by Conall Ó Fátharta, the
