Hotspots emerging in capital
ESTATE agents DNG put the average cost of a home in Dublin now at €349,000 – up €71,000 since the same time last year.
The property company says houses in the west of the capital are rising at almost twice the rate of properties in the north and south of the city.
Also reflecting more first-time buyers coming into the market, homes valued under €250,000 are rising in price faster than more expensive houses, it says.
Keith Lowe, chief executive of DNG, said property prices fell too far and too fast during the crash and it was inevitable they would rebound, particularly in Dublin.
"The sharp price rises experienced at the entry level price bracket and properties located in west Dublin, in particular, is good to see," he said.
"These have been slower to recover than other areas and price categories and are now playing catch-up with the rest of the market."
He also sounded an optimistic note for people who live outside of Dublin, particularly in cities or in the commuter belt.
"We have also noted strong evidence of recovery in market conditions in the areas around Dublin including counties Kildare, Wicklow and Meath," he said.