The average price for a house in Dublin is now nearly a walloping €400,000, latest figures show.
And costs continue to climb for the fifth year in a row despite Government efforts to relieve house prices.
The Daft House Prices Report put the average Dublin house price at €383,000, which is an increase of 4% from last year.
And it is 74% higher than its lowest point in 2012, when the average price in the capital was €220,000.
The nationwide market saw an even bigger increase, jumping by 5.9% from last year.
This means the average price tag for a house in Ireland is now around €261,000.
The national growth is being driven by other major cities, which saw increases of up to nearly 12%.
Houses for sale for less than €40,000 in Ireland
Limerick saw the biggest spike with 11.4%, with Waterford (10.3%) and Galway (9.9%) coming a close second.
Chief of the report, Ronan Lyons, said: “On the face of it, the signals from the market in early 2019 appear to be largely unchanged from recent years, with prices rising in all 54 markets in the first three months of the year.
“However, in many markets, this may be just a rebound following falls in late 2018, driven in large part by the calendar-year basis of exemptions under Central Bank rules.
“With completions set to increase in coming quarters, a period of much more moderate inflation – at least in Dublin – appears likely.”
But house buyers have some good news in that there’s a significantly bigger choice of properties up for sale.
The number of homes on the market reached 22,500 this month - over 10% more than last year.
Dublin is championing this growth, seeing 40% more properties for sale than this time last year.
House prices in Ireland have risen by 6.6% since 2017
And despite the staggering costs, it appears folks are nabbing up prices at a much faster rate.
Spokesman of Daft.ie, Martin Clancy, said there were 19,000 house sales in the capital alone over the past year - an increase of 4%.
He said: “In addition to a sharp increase in the number of properties on the market, the volume of transactions is also up across the board.
“Likewise, we’re continuing to see strong interest on Daft.ie with over 1,000 property searches now taking place every minute across our website and mobile apps.”
