Chartered estate agents say they are struggling to meet demand for property, especially from first time buyers. A survey of 800 agents, carried out by the Society of Chartered Surveyors Ireland, found that over two thirds predicted property price increases in the year ahead with 24% expecting prices to remain the same and 8% anticipating reductions.
The average price increase in 2021 would be of the order of 4%, the report concludes, with lack of supply acting as the main driver of prices.
Property prices in Dublin are expected to see average increases of 3%, while Connacht-Ulster - which has some of the lowest prices - will see an increase of 6%.