A study from MyHome.ie suggests that we would need another 200,000 homes to have the same ratio of homes to population that the UK already has.  It follows, therefore, that asking prices for property are rising by 7.5% over the past 12 months with one in 7 homes selling now for 20% above the asking price. Conall Mac Coille is chief economist with Bank of Ireland and author of the MyHome Property report.