House prices to hit the roof

House prices are expected to rise by at least 10% this year.

The incoming President for the Professional Auctioneers and Valuers claims that prices in the first quarter of this year have so far increased by 5.5%.

Pat Davitt maintains many factors have contributed towards the increased prices.

He says investors have come back into the market and the government has relaxed the stamp duty and the interest relief for investors.

Mr Davitt is also claiming that the shortage in availability of houses around the country has definitely bumped up house prices.