The latest report is forecasting higher price rises for houses outside Dublin this year

The latest report is forecasting higher price rises for houses outside Dublin this year

House prices are expected to rise by 5% this year, according to the latest report from MyHome.ie.

Growth will be stronger outside of Dublin with prices in Galway set to rise by 12%.

The report says the increase is down to the ongoing economic recovery, but it says house price inflation will start to level off this year.

Chief Economist with Davy, Conall MacCoille is the author of the report, and he says the lack of supply is a problem.

He said: "Not enough homes are being sold. If you're a first-time buyer you're struggling to find a property to buy.

"So, while house prices levelling off is a good thing, I think the lack of construction and some of the worries around the costs of building homes are certainly very concerning, and we are seeing that in terms of some of the Government's recent announcements."


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