A study published by the Society of Chartered Surveyors Ireland (SCSI) says that the Irish property market will be less volatile in 2015 - and that tighter lending rules could contribute to a cooling-off of the market.

The study says that property values in Ireland increased by 14 percent in 2014. Dublin led the recovery, with average prices increasing by 19.5 percent.

SCSI points out that this double-digit growth is coming from a low base - it predicts that the national average increase will be between five and 10 percent in 2015.

In the rental market, rates increased by 11 percent - rising to within five to 10 percent of peak boom prices in some areas.

The SCSI study says that a lack of new houses in the capital has inflated prices, and led to an increase in demand for properties in the surrounding commuter counties.

The report also says that 80 percent of those surveyed believe that the the Central Bank's 20 percent loan-to-value proposals to restrict lending are too tough - instead they recommend a deposit requirement of between 10 and 15 percent.