House prices in some regions of Ireland could rise by as much as 7% in the next year, according to a survey of estate agents. The Society of Chartered Surveyors Ireland (SCSI)/Central Bank of Ireland Residential Property Price Survey gathered responses from more than 200 estate agents in May.

Four out of five estate agents surveyed predict that national property prices will rise in the next year. In Dublin the rise is expected to be around 4%, in Leinster 6%, and in Munster, Connacht and Ulster prices are expected to increase by as much as 7%.

Agents said the higher price forecast for properties outside Dublin reflected the “Covid effect” and the increased attractiveness of regional properties due to the rise in people working from home. The predicted rise in prices also takes into account the low housing stock levels and increasing numbers of inquiries and viewings reported by 80% of agents surveyed. Top of FormBottom of Form

TJ Cronin, president of the SCSI, said a lack of supply, construction lockdowns and steep increases in the price of materials meant prices would continue to rise. He added: “While prospective sellers were reluctant to put their property on the market, buyers, who in many cases were in a position to increase their savings, were left chasing a reducing number of properties.”