House prices forecast to rise by 5% as supply struggles to meet demand

SCSI report also highlights planning issues and impact of rising renovation costs

The Society of Chartered Surveyors Ireland (SCSI) said 90 per cent of 189 estate agents surveyed in December expect property prices to increase this year. Photograph: Simon Dawson/Bloomberg

The Society of Chartered Surveyors Ireland (SCSI) said 90 per cent of 189 estate agents surveyed in December expect property prices to increase this year. Photograph: Simon Dawson/Bloomberg

Property prices are expected to rise by about 5 per cent this year as supply shortages, pent-up demand and pandemic savings continue to drive activity, according to a survey of estate agents.

The Society of Chartered Surveyors Ireland (SCSI) said 90 per cent of 189 estate agents surveyed in December expect property prices to increase this year, ranging from a 5 per cent advance in Dublin, Leinster and Munster to a 7 per cent increase in Connacht and Ulster.

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