House prices are set to rise in Cavan and Monaghan in 2017

House prices are set to rise in Cavan and Monaghan in 2017.

That’s according to a survey undertaken by the Real Estate Alliance Group who say this is due to limited supply and the easing of the first time buyer restrictions.

Under the deal announced in October’s budget, first time buyers of new homes are offered 5% tax back on the price of the property to help them save a deposit.

Revenue figures show over 550 people have signed up for the tax rebate since its launch at the start of this month.

James Spring of Peter Donohue’s Real Estate Agents in Ballyconnell says the supply for housing could shrink as the year goes on making competition for first time buyers much tougher.