House prices rise at lowest level in two years amid 'dysfunctional' market

Brokers Ireland director of financial services Rachel McGovern said: “Just a year ago a home buyer could have got a 10- or 20-year fixed mortgage for around the 3% mark. This is now well gone and will be looked upon as a missed opportunity by many." File picture: Colin Keegan, Collins

Property price inflation is at its lowest level in two years, but the market remains “dysfunctional” for first-time buyers.

The Central Statistics Office’s Property Price Index for April shows that home prices increased by 3.6% in the previous 12 months, rising 1% in Dublin and by 5.6% outside the capital.