House prices in Cork and Limerick could rise by up to 7% as Covid restrictions are lifted, experts warn

Sherry FitzGerald managing director of residential, Marian Finnegan, predicts that prices in Ireland will rise between 3% and 5% this year.

The double-digit annual price surge in Britain compares with the 3.7% annual house price rise in Ireland in March. Picture: Eamonn Farrell/RollingNews.ie

New figures showing British house prices surged 11% as its economy fully reopens has raised concerns that house prices here will also be taking off soon, when the rollout of the Covid vaccines is completed this summer.  

British prices rose 1.8% in April and climbed by 11% in the year, the most in nearly seven years, and prices look set to accelerate further, according to UK lender Nationwide.