Shortage of houses builds on an Irish problem

Last year saw a marked pick-up in residential property prices, which increased by 12.3%, compared to 1.4% in 2013. Dublin led the way, with prices there up 20%, writes Oliver Mangan.

It was also noticeable, though, that, as the year progressed, prices outside of Dublin rose strongly as well, jumping by over 10% between May and December.

The opening months of this year have seen a moderation in the upward pressure on prices. Indeed, prices decreased in both January and February, marking the first time since early 2013 that prices fell for consecutive months. The year-on-year growth rate, though, remained high at almost 15% in February.