Property prices in capital up over 12%

Fears of a fresh bubble in the housing market in Dublin have increased with new figures that show property prices there rose 12.3% over the past 12 months.

The latest residential property price index published by the CSO show that the property market in Dublin recorded growth not seen since the peak of the Celtic Tiger, with prices up 3.9% alone last month.

Overall, house prices nationally have risen by 3.6% over the past year. However, the rise is driven solely by price increases in the capital confirming the existence of a two-tier property market.