The latest edition of the ESRI House price index shows that national house price reduction was just 0.7% in January - a smaller reduction than that recorded in each of the previous three months. This slow down in price reduction may indicate that the period of price adjustment is coming to an end. It appears that most vendors have now made their prices more realistic and as such there is great value to be found in the market for consumers for the time being.
A recent survey of ERA Agents across Ireland reports a steady recovery in numbers of active viewers. The ERA Market Survey also indicates that we number of days on the market is shortening for recent listings. These signs suggest that the residential property market is set to turn as the European Central Bank has strongly indicated that we are at the top of the interest rate cycle.
