New figures show that the average mortgage price in Dublin has increased dramatically from €38,000 to €51,000 during 2015.
That's a 38% increase over 12 months as the impact of the Central Bank's new deposit rules were felt in the Irish property market, according to numbers seen by the Irish Independent.
The effects are not confined to the capital, large increases were seen across the rest of Ireland as average deposits increased from €16,000 in 2014 to €20,000 in 2015.
In Cork average deposits rose to €32,000, up from €24,000 while in Galway the average deposit was €27,000, up from €21,000.
A spokeswoman from the Irish Banking and Payments Federation (BPFI) has verified that these figures are correct, "I can confirm that this was not in the BPFI 'Housing Market Monitor' published on Monday. It was used as part of a presentation to stakeholders to offer more insight and context," she told the newspaper.
These rising deposits are likely to put mortgages beyond the reach of most workers. Central Bank Governor Professor Philip Lane has indicated that these mortgage rules will be reviewed during the summer months.
Charlie Weston, Personal Finance Editor with the Irish Independent discussed the figures with Newstalk Breakfast:
