Supply continues to be the fly in the housing ointment

Irish house price inflation slowed from an annual rate of around 20% in the second half of 2015 to a 5%-6% range in the first half of last year. 

The slowdown in price increases coincided with the introduction of new Central Bank regulations on mortgage lending.

However in recent months, house price inflation has exhibited signs of reacceleration. CSO data for January showed house prices nationally registering year-on-year growth of close to 8%, similar to its December pace.