House prices up 16%

House prices here rose by more than 16% in 2014.

The strongest growth was seen in Dublin - where prices were up 18% during the year - and in Cork, where prices saw a rise of 17.9%. Galway saw price rises of almost 15% , while in Limerick, prices were up by more than 11%.

With Dublin excluded, the increase in the 12 months to the end of December was just under 14%, according to the Sherry Fitzgerald Group.

Chief economist with the Sherry Fitzgerald group Marion Finnegan said there were still flat markets in some parts of the country.

"All of the cities are seeing quite strong price performance, but the range is anything from flat markets in places like Cavan, Roscommon and Leitrim to the cities, which are seeing quite strong growth.

"So it's still quite a divided nation in terms of the housing market."