Househunters be warned, THEY told you so.

Warning to househunters as survey shows cooling of housing market
03/07/2006 - 15:48:50

Househunters were today warned they face a tricky balancing act in getting on to the property ladder as a new house price survey showed signs of a slowdown, the first for five years.

Estate agents Douglas Newman Good revealed that rising interest rates were helping to create the much touted soft landing in the market, but at the same time creating added costs for first-time buyers.

Backing a separate study by umbrella group the Irish Auctioneers and Valuers Institute, DNG reported the rate of house price growth was on the way down – a trend not seen since 2001 when prices fell due to 9/11 and the technology bubble bursting.

The survey showed the average price of a second-hand house in Dublin rose by 7.4% between April and June this year – compared to a 10% rise in the first quarter of the year.

Paul Murgatroyd, DNG economist, said: “We do seem to be moving into a period of soft landing. The downturn, everything will be fine scenario we have been hearing about, it looks like it is coming to fruition.

“We are moving into a soft landing and stabilising of house price growth, but certainly there is no crash or big dip.

“The balances of power are shifting back to the buyer from the vendor slightly but the downside is that there is the double-edged sword of raising increased sums to fund the buying and paying back loans.â€

Well, isn’t this more indicative of a true soft landing for once rather than a crash?

If buying power doesn’t fully fall into the lap of the buyer then it doesn’t really the characteristics of a crash…

Very interesting, well observed, good posts BB

I suggest you actually email them on this issue, I have found them to be rather helpful & forthcoming!

Spam posts are here, all 3 above mine :unamused:

I know!

I can’t be here 24 hrs a day to delete em tho’, I get to them when I get to them… Often, twice a day… I wish OW would hurry up and update the software!

that was me :unamused:

Je sais! Update should sort that little problem too…

Open Window is around but we’ve been busy with other projects, 9-5s, extra-curriculars, etc…