Increased supply to hit house price growth

The emergence of new homes as a real option for buyers, for the first time in a decade, is set to modify growth in the cost of second-hand properties, estate agents have predicted.

A survey carried out by the Real Estate Alliance (REA) group has found its agents expect prices to rise by 7.5% on average in the next 12 months, 4% less than the increase in 2017.

Many new developments are coming to fruition, most of them concentrated on the east coast but substantial numbers are also close to completion in Galway.