Average house prices in Dublin rose by 21.95 per cent for the whole of 2005, according to figures released by the estate agent Douglas Newman Good (DNG) today.
The figures also show that the average time to agree a sale on a second-hand residential property had fallen by three days, to 59 days, in second half of the year.
DNG economist Paul Murgatroyd said: "Last year the market outperformed initial expectations with prices climbing at rates not seen for several years and, if anything, the second half of 2005 was stronger that the traditionally busier period prior to summer.
"Prices rose very strongly at 4.3 per cent for the final quarter of the year leaving the annual rate of inflation in Dublin at 21.95 per cent." he added.