Property prices are expected to keep rising this year despite large numbers of buyers hitting affordability limits.
Latest figures show prices were up by close to 9pc in the year to last December.
The typical price of a home across the State is now €200,000 more expensive than in 2013, according to Central Statistics Office (CSO) figures.
Economist Austin Hughes said prices would continue to rise this year, but at a slightly slower place. He said a chronic shortage of supply would outweigh affordability issues for homebuyers.
“The irresistible force of limited supply is running into the immovable object of affordability limits, meaning prices continue to increase but at a gradually slowing pace,” Mr Hughes said.
The CSO’s Residential Property Price Index increased by 8.7pc in the 12 months to last December.
Read the full details in the Irish Independent
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