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House prices jump by €20,000 amid Covid ‘supply shock’

House prices in Ireland have increased by an average of €20,000 in the past year, roughly twice the rate of the inflation seen in 2018 and 2019 and comes on the back of major “supply shock”.

In the latest property market report, the total number of properties available to buy on March 1st this year was just under 12,000, the lowest level in 15 years.

The report, which covers the first three months of 2021, found house prices were on average 7.6% up in year-on-year terms. In Dublin, the increase was 6.9%. 

The average sales price nationally was €275,751, up from €256,000 a year ago. In Dublin, the average asking price was €398,127.

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