Ireland is now the fifth most expensive country of 20 European states for conveyancing.

A new EU report also reveals it is twice as expensive to have conveyancing carried out here than it is in the UK.

The cost of conveyancing a €500,000 property with a 70pc mortgage in England and Wales was €1,700; but the cost is €4,000 in Ireland.

Chairman of the Consumers' Association James Doorley said the practice here of charging a percentage of the selling price was driving the costs up considerably even though the work involved in conveyancing for a €300,000 property and €500,000 property was virtually the same.

"We are the fifth most expensive out of 20 countries for conveyancing a €500,000 property with both a 100pc mortgage and a property with a 70pc mortgage," Mr Doorley said.

He called for the law to be changed to create a specialist profession of conveyancers who would compete in the market.

But director general of the Law Society, Ken Murphy, questioned the figures in the EU Commission survey.

"The figures for solicitor conveyancing fees are wrong and much too high. The Irish market has a high competitive market for conveyancing," he said.