The Central Bank is expressing concern about surging residential property prices.

In a review published today, it says the rising trend, particularly in Dublin, is similar to that seen a decade ago.

And it’s urging banks to apply appropriate lending standards when issuing mortgages.

Officials say they're taking too long to deal with customers in long-term mortgage arrears and those behind in repayments on buy-to-let homeloans.

The report also finds that Irish banks returned to profit this year for the first time since 2008.