House hunters are having to spend an extra €12,000 on average in order to secure a home, according to a new report.
Figures from Daft.ie show over the first three months of 2022 houses have been selling for four per cent above their initial listing.
The price difference is greatest in Dublin, where homes are selling for 5 per cent more.
The report found the premium paid by buyers over the period is higher than any other time since 2010.
Report author, economist Ronan Lyons, says the market's red hot at the moment;
"The typical transaction price now sells for about 4 per cent above the listed price and that's a bigger percentage than at any point over the last ten or twelve years. Typically the two are very close, usually one or two per cent in the difference over the last five or six years."
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