Annual house price growth accelerates to 9.6% in July

Median price being paid for a home in Ireland in the last 12 months was €340,000, with house prices rising fastest in the Mid-West region — Clare, Limerick and Tipperary — at 13.4%

Property prices are now 12.4% above their Celtic Tiger peak and just over 2.5 times what they were at their trough during the downturn, according to CSO figures. Picture Colin Keegan/ Collins

The cost of buying a home in Ireland has risen almost 10% in the last year, as property price inflation continues to increase sharply.

The 9.6% rise in the Central Statistics Office’s Property Price Index for July shows the fastest rise in property prices in over two years.