Property prices are increasing at the fastest rate in seven years.
New CSO figures show the cost of property in Dublin rose by 13.4% while outside the capital that figure stood at 16%.
For the 17th month in a row, the annual rate of house price inflation surpasses the previous month's figure.
Nationally, house prices rose by 14.8% in the year to January, up from 14.3% in December.
The biggest increase was seen in border counties, where prices hiked by almost 25% in that period.
CEO of the Institute of Professional Auctioneers and Valuer Patrick Davitt explains why that may be:
"Now that the pound has got a bit weaker they have a lot better value - they've nearly 15% extra value as opposed to the euro buyers.
"That is causing a bit of interest and causing prices to increase."
Professor of Economics at DCU Edgar Morgenroth says many people are spending their savings, as inflation rates increase and salaries stay the same.
But others are protecting their money in property:
"An increase of inflation usually means you want to put your money - your savings into something that is inflation proof.
"Property is one of those things."
The median price of a home bought in the year to January was €280,000 euro, the lowest was in Longford was the highest was in South Dublin.
