Dublin house prices likely to rise 10%

Dublin house prices are set to increase by 10% over the next two years, while prices in the rest of the country will stay in a plus 5% to minus 5% range, according to economist Ronan Lyons.

Mr Lyons compiled the housing market monitor for the fourth quarter of last year on behalf of the Irish Banking Federation (IBF).

The main findings include a 7% increase in the number of properties listed for sale last year compared with 2012; a 10% increase in housing market transactions; and a 6.1% increase in the level of mortgage approvals in 2013 compared with the previous year, although there was a 5% decline in the level of drawdowns.