A new report is raising concerns about a supply shortage of residential properties in Dublin. The latest Housing Market Monitor from the Irish Banking Federation (IBF) also shows that prices in the capital are continuing to rise.
The IBF study says a two-tier market is now firmly established with asking prices outside of Dublin increasing at a much slower pace.
It shows that while positive trends have emerged across some of the key housing market indicators in 2013, significant national differences persist.
"With 2013 as a whole showing increases in the number of properties listed for sale, as well as in the number of property transactions, the rise in house prices in Dublin coupled with a growing shortage of accommodation remains a cause for concern", it says.
In 2013 as a whole, compared to 2012, the monitor find that there was a 7% increase in the number of properties listed for sale, a 10% increase in the number of housing market transactions and a 6.1% increase in the level of mortgage approvals with a decline of 5% in the level of draw-downs.
Economist Ronan Lyons helped to compile the report. He says there is a significant national variation emerging.
