On the online property portal, MyHome.ie, it has been reported that there has been a significant increase in the cost of houses. The asking prices have escalated by 7.3% from one year to the next in the second quarter, marking the most rapid rate of increase witnessed in the past two years. Buyers have also highlighted that the final price they have to pay is often considerably higher than the initial asking price. This is largely due to the high demand and comparatively low supply of properties, which suggests that the percentage increase is probably underestimated. Despite the fact that the government has allocated over €8 billion this year to tackle the housing crisis and inflation is maintaining a steady 1.5%, house prices are not decreasing. Economical analyst, Cliff Taylor, provides an explanation for this occurrence. The information was shared by Bernice Harrison and pieced together by Suzanne Brennan.