The latest report from property website Daft.ie shows that the average cost of buying a house is €173,000.
The price of a home in County Waterford was also found to have increased by the same amount, with the average coming in at over €220,000.
“We’re seeing strong demand across the country but Waterford is one the places where we haven’t seen a supply response,” said economist Ronan Lyons, the report’s author.
“So in Dublin particular and to a lesser extent in Cork and Galway there are more homes on the market now, both second-hand and new, than two or three years ago. That’s not yet the case in Waterford and as a result prices are still getting pushed up.”
He said that while an increase in the rate of construction in Dublin has brought an easing in the market there, he doesn’t expect similar to happen elsewhere for some time to come.
“The reason it won’t be spread rapidly is because the prices are so much higher in Dublin, that it’s viable to build even with very high costs. But in other parts of the country where it’s significantly cheaper to buy second hand homes, it’s still not yet viable to build from scratch, even with very cheap land so I expect it’ll be a while yet before we see a big supply response in Waterford.”