Here’s how much house prices went up in 2017, according to a leading estate agent

The average value of homes across the country rose by 8.4% last year, according to the latest figures from Sherry Fitzgerald.

This compares to an increase of 5.2% in 2016.

The statistics show that the biggest rise was in Dublin, which saw an 8.8% increase in prices compared to 3.7% in 2016.

This was closely followed by Galway where the value jumped by 8.4%, while Cork and Limerick also experienced substantial price growth of 7.3% and 7.4% respectively over the twelve-month period.

The national average excluding Dublin was 7.9%, up slightly from the 7.3% growth rate recorded for 2016.

Sherry Fitzgerald says a stronger economy and employment growth, as well as a shortage of properties, have pushed prices up.

They said the supply side pressures are most noticeable in Dublin, Cork, Limerick and Galway. 

However, Marian Finnegan, Chief Economist, Sherry FitzGerald Group said: "That said, it is worth noting that the average value of new home dwellings sold in the first nine months rose by a modest 1% in Dublin, illustrating the positive impact of the ‘help to buy’ scheme on the new homes market.”

The Property Price Register reveals that the number of new houses bought in the first nine months of 2017 was up 27% when compared to the same period in 2016.

The average value of the sales in this nine-month period was 10% higher than the same period in 2016, with Dublin accounting for 41% of these sales, while average values in the capital growing more a modest 1% over the period.