The new governor of the Central Bank has said controversial mortgage rules, which particularly affect first time buyers, will be reviewed this summer.

The latest house price figures show that prices increased in 2015 by 8.5%.

The Finance Minister Michael Noonan has again backed the Central Bank mortgage rules, saying that earlier this year it "looked a bit scary" that another housing bubble was starting.

The Finance Minister Michael Noonan has indicated he would like to see a review of the Central Bank's mortgage caps for first-time buyers.