House prices across Ireland are 8.4% higher now than the same time last year, new data has revealed.

The latest Daft.ie House Price Report and research from MyHome.ie showcased the average house asking price as €299,093 across the state.

Prices are up approximately 4% in Dublin, Cork and Galway City, with increases of 7.6% and 9.3% in the cities of Limerick and Waterford respectively.

Commenting on the new figures, Sinn Féin representative Eoin Ó Broin TD said: "Staggering house price inflation is now a feature of the housing market across the state.

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"A research report published by MyHome.ie paints an equally worrying picture. This report has house price inflation running at 12.3%, with the median asking price for a home across the state now at €295,000.

"The government has failed to get to grips with the crisis and has shamefully extended and introduced policies like Help to Buy and the Shared Equity Loan scheme will inflate prices further.

"The government is continuing to over rely on private investors and developers to deliver homes, which will never be truly affordable for the majority of ordinary people.

"It must first of all accept this fact. Then it must revise its affordable home targets upwards to at least 8,000 homes per year.

"A Sinn Féin-led government would prioritise investment in public housing, which would be genuinely affordable, to meet the growing housing need across the state."