House prices in Dublin have surged by almost 9%t in the last three months, compared to an increase of just 1% in the 12 months before it.
Property website Daft.ie puts the average house price in the capital at €340,000, closely followed by Galway and Cork. The national average is €230,000.
The increase indicates we could be back to Celtic Tiger level price tags within the next three years, according to Daft's Ronan Lyons.
He says the supply shortage is to blame: "It's one and two bedroom apartments we need and don't have enough of," he says. "What protected the market until now was an overhang of supply from the bubble. But ten years of no building means we've run out of the type of properties people want to buy now and that's pushing prices up."
There were more than 20,500 homes on the market last month, down from almost 24,000 this time last year.