House prices 'sky rocket' by 13% as demand spikes and supply plummets 

"Housing supply ground to a halt, while housing demand, especially in the first-time buyer cohort,  expanded rather than contracted."

The country has recorded four consecutive quarters of house price rises. Picture: Denis Scannell

Ireland has recorded four consecutive quarters of house price rises for the first time in seven years as demand "sky-rockets in a red-hot" market, separate industry reports have found.

According to a Daft.ie report released today, across the entire country the average price rose by 13% over the last 12 months, an increase of nearly €33,000.