Electricity prices revealed to have risen by up to 10% in the last 12 months

The cost of maintaining a house has risen by 3% since 2016.

Home-owners are being forced to dig deeper than ever, as the average price of houses rose by an average of €13,000 in the past year - with electricity bills among those to have soared- writes dublinlive.ie.

Figures from the AA revealed the average house price in Ireland increased by 6% from €215,000 to €228,000 since last year.

Meanwhile, the cost of maintaining a house also rose by 3% to more than €16,000 per year, bringing the price to roughly 43% of the average wage in Ireland.

As a result of the price hikes, mortgage costs have increased 4.48% with the average homeowner who took out a 90% loan left paying almost €10,000 per year.

AA director of consumer affairs Conor Faughan said the statistics reflect the struggles first-time buyers face, but added the right deals can still be found as long as people are willing to be patient.

He said: “The big story for 2017 has been rising house prices and increased difficulty for those trying to get on the property ladder this year.”

“For new buyers the concern is that house prices are going up, especially in Dublin.

“However, one thing this piece of research does demonstrate is the effectiveness of shopping around.

“Across all the bills we factor into this study you’ll see considerable variations between competitors.

“Spend a little time on the research and it can certainly save you money.”

Despite the increases, those who bought their homes this year fork out about €5,000 less on mortgage payments than those who invested in property at the height of the boom in 2007.

Electricity prices have also gone up drastically according to the figures which say owners have averaged a 10% increase in costs since last year.

Heating prices also saw a rise by just over 2%.

Mr Faughan added: “When you weigh up every cost a homeowner faces there has only been a relatively modest increase this year but unfortunately this largely applied to the post-purchasing costs.

“Getting a foot in the front door remains a challenge for many as a result of continued increases in house prices.”

Other costs taking their toll on people included TV license fees, property tax, bin charges, and phone and broadband bills which all averaged the same price as the previous year.

Read more news of Dublin on our site.

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