Homes beyond reach of average earners

The cost of a home in Dublin may soon be beyond those on average incomes, a new study shows.

As the Cabinet meets today to discuss plans to boost the supply of affordable homes in urban areas, a survey highlights the likely fallout from the recent explosion in house prices in the capital.

The IBF Housing Market Monitor for the last quarter of 2013, published yesterday by the Irish Banking Federation, reveals the rise in house prices in Dublin, coupled with a growing shortage of accommodation there remains a concern.