Most individual wage earners in Ireland would not meet the criteria to apply for a mortgage for a one-bed apartment anywhere in Dublin, while a full-time minimum wage earner would have “little chance” of getting a mortgage for the same type of property in Cork, Galway, or Limerick cities.

The economy could grow by as much as an “above trend” 4.4% this year, one economic think-tank has said.

The Government is being warned not to cut the tax take in October's budget, in the latest forecast from the Nevin Economic Research Institute.

The equal split approach, between spending increases and tax reductions, being proposed for October’s budget has been rejected as “inappropriate”, given the current levels of both revenue and spending.