Irish house price rise is 30 times the EU average

House prices in Ireland have been growing at a rate 30 times faster than the average property price rises in the euro area during 2014, according to EU figures.

A comparison of the property markets in all 28 EU member states showed Irish house prices have been soaring at levels way above EU averages.

Prices in Ireland grew by 15% annually in the third quarter of 2014 compared to the average of just 0.5% for the euro area.