The price of a three-bed semi-detatched house in Dublin city has breached the €400,000 barrier, a new survey shows.
New figures from REA's Average House Price Index show that the price of an average house in Dublin rose by 3.9% in the first quarter of 2017.
A typical three-bed semi-detached in Dublin city now costs €404,167, a rise of €15,000 in the last three months and an increase of 12.8% over the past year.
REA said the easing of the Central Bank's restriction on lending for first-time buyers has had an immediate effect on the market.
It noted a large rise in numbers at viewings and potential buyers with mortgage financing, but added that supply remains extremely limited.
Today's survey also showed that the average semi-detached house nationally now costs €209,944, up 3.5% on the figure of €202,926 in the previous three month period.
Overall, the average house price across the country has risen by 10.9% over the past 12 months, it added.
The estate agents said that the biggest percentage increases over the past year came in the smaller towns situated outside of Dublin, the commuter belt and the major cities.
Prices here rose by an average of 12.9% over the year, with a three-bed semi now costing €136,194 - an increase of 3% in the past three months.
Prices in the commuter counties of Louth, Meath, Kildare, Wicklow, Carlow and Laois rebounded after a relatively static end to 2016 and rose by 2.9% in the past three months.
This means that the average house appreciated by over €6,000 in the three month period.
Today's survey also showed that the average semi now costs €305,000 in Cork, up 3.4%, €132,000 in Galway, up 2.1% and €178,000 in Limerick - a rise of 0.6%.
