'Severe' supply constraints causing house prices to surge

While commencement activity has expanded since the reopening of construction sites in 2021, activity in many areas outside of Dublin remains substantially below what is required

The average value of second-hand homes in Ireland has increased by 2.2% in the fourth quarter of 2021, with values rising 9.6% cumulatively over the year. File picture: RollingNews.ie

Severe supply constraints are causing house prices to surge, an economist has said.

The average value of second-hand homes in Ireland has increased by 2.2% in the fourth quarter of 2021, with values rising 9.6% cumulatively over the year.