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House sale boom 'is just beginning'

The fast-paced property recovery is only just beginning, according to Goodbody Stockbrokers.

A new report has identified that property prices and rents will continue to grow in the medium term.

Residential prices grew by 13pc in the year to July 2014 - and by 23pc in Dublin alone.

However, prices remain below peak levels.

Goodbody has predicted that growing supply shortages, especially in the Dublin area, will support further increases for years to come.

"Ireland is in the midst of its fourth commercial property boom in 30 years, as limited vacancy and supply drive rental growth in the sector," the report said.

Separate research from MyHome.ie identifed from the Property Price Register that the value of transactions of sales in Dublin have jumped by 46pc in the first half of the year.

There were 15,864 sales nationally between January 1 and June 30, a 39.3pc increase on the same period in 2013.