Property prices rise by 6pc as prospect of rate cuts fuels demand for houses

The possibility that interest rates have peaked and are set to fall has been cited as one reason for the pace of property price rises picking up.

Prices surged by 6.1pc in the year to February, with the continual rises making affordability for buyers a huge issue.

The February increase was larger than the rise of 5.4pc in the year to January, according to the Central Statistics Office (CSO).

This means the pace of property price rises has picked up, and it was the sixth month in a row of prices rising nationally.

Read the full details in the Irish Independent

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