Housing market on track to stabilise as agents record rise in transactions

THE housing market is on track to stabilise during the second half of the year, with estate agents seeing a jump in viewing levels and transactions.

They also said multiple bidding on individual properties has become a feature for the first time since the market began to contract.

According to figures from Sherry FitzGerald, the first quarter of 2010 saw the national housing market contract by 2.8%, compared to a contraction of 8.3% in the same period a year earlier. The estate agent said that if trend lines persist, there is every reason to believe that the Dublin market will stabilise during the latter half of 2010.