Residential property prices in Ireland have risen for the eighth consecutive month, with prices shooting up by 7.9 per cent in the last 12 months to April, as per figures from the Central Statistics Office (CSO).
The increase of 7.9 per cent in prices is up from a rise of 7.4 per cent recorded in the year to March.
The data indicates that the housing supply is not growing fast enough to meet demand, highlighting the housing crisis across the country.
CSO figures also revealed that property prices in Dublin saw an annual increase of 8.3 per cent, while prices outside the capital city were 7.6 per cent higher in April when compared with the same time last year.
As per the data,Dublin property prices are 1.8 per cent below the February 2007 peak, while residential prices in the rest of the country are 10.2 per cent higher than the peak.