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Ireland on course for steepest property price increase since the Celtic Tiger

Ireland on course for steepest property price increase since the Celtic Tiger

Ireland is on course for the steepest increase in property prices since the Celtic Tiger Era.

New figures show prices are set to soar 12% this year.

House prices rose by 6.25% in the first half of this year according to the Institute of Professional Auctioneers and Valuers.

Today's Sunday Independent reports house price inflation could hit double digits for the whole of 2021.

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Waterford and Limerick saw prices increase by more than 10% during the first six months of this year - while the average price of a four-bedroomed house increased by 9% in many parts of the country.

The average price of buying a home in Ireland has now risen to โ‚ฌ280,629.

Elsewhere in the South East, Tipperary saw a more than 9% increase for a three-bed-semi-detached house.

Housing Minister Darragh O'Brien told the paper that the figures are not a good result...and that it is not something any state or any property market can sustain.

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IPAV Chief Executive Pat Davitt prolonged house price inflation at these rates can have deeply damaging consequences for individual families and for society at large.

Beat News reporter Kevin Galvin chatted to Housing Minister O'Brien about the new Housing For All plan, and you can listen to the full interview below.

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