The pace of house price growth is expected to slow to 6% this year, according to the median forecast of eleven property analysts and real estate agents polled by Bloomberg News.

The most recent data from the CSO indicated that property prices increased by 16.3% nationally in the year to December.

According to the Bloomberg poll, property prices in Dublin, which rose 22% in the year to December, will rise 7.5% in 2015.

The expected slowdown is being attributed to the new rules on mortgage lending introduced by the Central Bank earlier this week.

Governor Patrick Honohan said the lending rules were being introduced to prevent another housing and credit bubble developing. 

The result will be a slowdown in the European Union's fastest growing real estate market, analysts forecast.

The new rules will cap most loans at 80%, and three and a half times a borrower's pre-tax income.

House prices here plunged by almost 50% after the crash, and began to rise in 2012. 

By last year, values were rising at seven times the EU average, the European Commission said this month. 

Across the EU, prices rose 2.3%.