House prices to eclipse Celtic Tiger levels as 'generation rent is stripped of chance to own home'

From their lowest point since the Celtic Tiger era house prices have more than doubled since 2013, rising 114%. Picture: PA

House prices are set to surge beyond Celtic Tiger levels this year, with "generation rent" to be denied the opportunity of homeownership for the foreseeable future.

Industry figures have warned house prices will continue to grow at a double-digit rate, as high as 20% in some forecasts, following a report by the Central Statistics Office (CSO) showing prices rising at a speed not seen in almost seven years.