Average age of solo homebuyer rises to 42 as 'significant' price hikes loom

In Cork, pent-up demand and a shortage of supply have resulted in homes selling for 10% or more over their guide prices in the past year. Picture: Sasko Lazarov/Photocall Ireland

Homebuyers who have seen house prices surge during the pandemic now face a further, potentially "significant", rise due to the housing shortage, the Central Bank has warned.

In Cork, pent-up demand and a shortage of supply have resulted in homes selling for 10% or more over their guide prices in the past year, according to the incoming president of the Society of Chartered Surveyors Ireland, TJ Cronin.