Housing market shows signs of cooling

THE runaway housing market is showing signs of cooling, according to figures released yesterday.

House prices grew by 6.8% in the first eight months of the year - a sharp fall-off from the 9% increase recorded over the same period last year.

The monthly house price survey conducted by mortgage lender Permanent TSB and the Economic and Social Research Institute found the average house price smashed through the €250,000 barrier for the first time in August.