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UK buyers are fixing their sights on Irish property on foot of strong sterling values against the euro and soaring property prices over there. While a 15 per cent increase in house prices here last year might have threatened to put some buyers off, the OECD has described Irish property as undervalued and by as much as 60 per cent in some rural locations. The value of sterling is also a driving factor, with a €500,000 property now £26,041 cheaper than it would have been a year earlier.