House prices 'have returned to 2006 levels'

House prices have returned to the level they were at two years ago, according to Bank of Ireland.

The bank's latest property review says the average price of a house or apartment nationwide is now €281,600.

It is also predicting that it will become easier for people to afford their own homes as incomes rise over the coming years.

The review says the housing market is balancing out, with 50,000 homes expected to be built this year, compared to almost 80,000 last year.

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