A survey by IIB Bank and the ESRI shows that 39% of SSIA account holders will continue to save when the scheme finishes.

25% plan to spend the money, while 10% will buy Irish property and 3% overseas property.

The bank estimates that this will translate to a 10% rise in house prices. Property hot spots like County Wicklow are likely to rise by a greater percentage.

A 10% rise in property prices would bring the average price of a house in County Wicklow to over €380,000.