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Property prices in Westmeath have stayed steady during the quarter, according to the latest MyHome.ie Property Price Report.

The overall average increase in property prices for 2021 was just short of 12 percent, with great variations across the country, according to the latest Residential Property Price Barometer by IPAV, the Institute of Professional Auctioneers & Valuers which captures house prices actually achieved by auctioneers for three- and four-bedroom semi-detached homes and two-bedroom apartments.

The overall average increase in property prices for 2021 was just short of 12pc, with great variations across the country, according to the latest Residential Property Price Barometer by IPAV, the Institute of Professional Auctioneers & Valuers, which captures house prices actually achieved by auctioneers for three- and four-bedroom semi-detached homes and two-bedroom apartments.

Commenting on the most recent CSO Residential Property Price Index for January IPAV, the Institute of Professional Auctioneers and Valuers, said auctioneers throughout the country are seeing extremely strong demand for homes that they are unable to satisfy because of a lack of supply.

Responding to the most recent Daft.ie rental Report for Q4 2020 IPAV, the Institute of Professional Auctioneers and Valuers, said it is notable just how much more expensive it continues to be to rent a home rather than buy one.

The recovery in new home completions in the final quarter of 2020, bringing the total for the year to 20,676 marking a drop of only 1.9 percent on 2019 but an increase of 15.9 percent in Q4 2020 over Q4 2019 is an indication of the construction industry’s ability to recover from the devastation of the pandemic, and augurs well for 2021, IPAV, the Institute of Professional Auctioneers and Valuers said.

Given a shortage of housing, strong demand and behavioural changes arising from the Covid-19 pandemic, house prices could rise by between five and ten percent by the end of 2021, provided there is no setback to the economy, according to IPAV, the Institute of Professional Auctioneers and Valuers.

Responding to the most recent CSO Residential Property Price Index, IPAV, the Institute of Professional Auctioneers and Valuers, said it strongly supports the view of the ESRI that the cost of building homes must be driven down and called for the setting up of an official monthly index of input costs.

Responding to the CSO Residential Property Price Index for September, IPAV, the Institute of Professional Auctioneers and Valuers, said while a correction in Dublin prices has been underway following recent rapid rises properties in rural Ireland are still selling for less than the cost of building them.

Brokers Ireland has called for more dramatic measures to tackle the current housing crisis.