Survey: Dublin second-hand house prices up 10%

A new survey claims that the price of second-hand houses in Dublin has risen by more than 10% so far this year.

According to the survey by auctioneers Douglas Newman Good, the annual rate of house price inflation in the city now stands at 25.8%.

Meanwhile, the prices faced by first-time buyers rose by 9.2% during the first quarter of 2006.

Keith Lowe the chief executive of DNG has predicted that house prices would continue to rise but added that interest rate rises might cool the market in the second half of the year.