According to the Central Statistics Office, the national cost of a home increased by 7.9 percent in the 12 months leading up to April, compared to a 7.4 percent rise in the year to March.

In Dublin, residential property prices rose by 8.3 percent, while outside the capital, prices increased by 7.6 percent over the same period. The median house price during this time was €335,000.

Trevor Grant, chairperson of Irish Mortgage Advisors, noted that the figures indicate continued robust house price growth.

“While housing supply is increasing, offering more opportunities for buyers, prices are also rising. This means that many homebuyers, especially first-time buyers who represent the largest group of buyers, will be disappointed that house price inflation is not easing.”