House prices are 35 per cent higher compared to the start of the Covid-19 pandemic in 2020.
The latest report by Daft.ie found house prices are up 7 per cent since last year.
Over the weekend, crowds queued overnight to express interest in a new housing development in Douglas as the average cost of a home in the city hits 364 thousand euro.
Financial Advisor, Karl Deeter, says house price inflation had cooled slightly last year:
"When interest rates go up, it usually throws a bit of water on the market, and people wait to see what's going to happen. but affordability is good. You know, Irish wages are good. The resilience in the economy is good and that's not great for getting the cheap house, but it is one of the reasons why you can see these prices rise. We're not talking small numbers. I mean, a house nationally now is going to cost you 340,0000 - multiples of average wage, which is around 45,000".
