There's no respite for house hunters as prices continue to rise across the country.

The latest House Price Report from Daft shows property prices increased by almost 7 percent on last year, with the average house costing 340,398 euro.

The cost of buying a home in quarter two of 2024 is up almost 4 percent on the first three months of the year.

In Dublin quarter two price inflation is at 5 percent year on year, compared with 1 percent from 2022 to 2023

In Mayo, prices in the second quarter of 2024 were 6% higher than a year previously, compared to a rise of 5% seen a year ago. The average price of a home is now €225,000 in the county, 13% below its Celtic Tiger peak.

While the increase in the second quarter was broadly based, there remain notable differences in price trends across the country. In Dublin, prices in the second quarter of the year were 4.7% higher than a year previously, while in Cork and Waterford cities, the increase was closer to 10%. In Galway and Limerick cities, prices were more than 12% higher year-on-year.

The number of second-hand homes available to buy nationwide on June 1st stood at just over 11,350, down 18% year-on-year and less than half the 2015-2019 average of almost 25,000. Since the start of the year, there have been consistently fewer than 12,000 second-hand homes available to buy.

Author of the report, economist Ronan Lyons says the rise in house prices  is  a simple case of supply and demand:



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