The cost of Irish homes has increased by €20,000 over the past year.
That’s according to the latest report from Daft.ie which shows the average price of a house across the country is now €276,000.
It’s as the number of properties available to buy this month was under 12,000, the lowest figure since homes started to be advertised online.
The halting of construction has led to an increased shortage of supply which has now driven house prices up on average by almost 8% nationally.
The demand for what is available could be contributing to the amounts being paid out.
Economist at Trinity College and author of the report Ronan Lyons says some sale prices are up 68% from their lowest point in 2013.
Locally it’s higher – Kilkenny saw a jump of 92% above its lowest point, with the mean price of a home now at €254,000 and prices across the county in the first quarter of 2021 up 18% on 2020’s figure, compared to a fall of 3% seen a year ago.
While in Carlow, prices in the first three months of 2021 were 14% higher than a year previously, compared to a fall of 3% a year ago. The average price of a home in Carlow is now €213,000, 82% above its lowest point.
Read the report full here