The number of house sales in Dublin rose by 5.9% last year – increasing from 17,491 to 18,523 – new research shows.
The figures, from Myhome.ie, also reveal that the total value of transactions for the year grew by 17.7% to €8.7 billion.
The research, which was based on an analysis of the Property Price Register, show that the number of house sales rose in 14 of Dublin's 22 postcodes last year, while it fell in eight.
Sales also rose in County Dublin during the year.
Myhome.ie said that for the second year in a row, Dublin 15 was the postal district with the largest number of sales during the year at 1,706 transactions.
It was followed by Dublin 18 on 1,000 sales, with Dublin 24 in third place on 961.
The estate agent noted these areas are seeing a lot of new developments such as Hansfield in Clonsilla and Royal Canal Park in Ashtown, in Dublin 15, Clay Farm in Leopardstown in Dublin 18 and Elder Heath in Tallaght in Dublin 24.
The post codes which recorded the biggest increases were Dublin 9, with sales there up 42%, while Dublin 22 saw an increase of up 27% and Dublin 10 reported a rise of 22%.
But the postcodes which saw the biggest fall in the number of sales were Dublin 20, with sales there down 40%, Dublin 1 (-35%), and Dublin 2 (-18%).
The falls can be attributed to the sale of a number of large developments in these areas in 2017, the estate agents said.
Meanwhile, sales in County Dublin rose from 4,669 to 5,319 – an increase of 14%.
Lucan in west Dublin led the way on 681 sales, followed by Swords in north county Dublin on 579 and Dun Laoghaire in south county Dublin on 544.
Commenting on today's figures, Angela Keegan – managing director of MyHome.ie – said that in light of current housing supply shortages, it is positive to see new developments coming to the market.
But Ms Keegan said the downside is that the city is sprawling out beyond the M50 at an "alarming rate".
She said that raises lots of questions around public transportation policy, commute times and the kind of city we want to live in.
"We believe we need to look at building higher in certain parts of the city and to providing incentives to build in other towns and cities which haven’t benefited from the economic recovery," she added.