A housing expert says Ireland could be facing another property bubble if the Government doesn't take action.

According to MyHome.ie, the average price of a home is now almost €240 thousand euro - after prices increased by over 5 per cent in the first three months of the year.

Dublin houses are still the most expensive at 347-thousand euro, while the average home will set you back 235-thousand in Cork City and 225-thousand in Galway City.

The latest hike is being linked to the Government's new help-to-buy scheme and the recent change to the Central Bank's mortgage lending rules.

Kim Buckley has this report: