Need to tackle Irish house market bottlenecks

In the first couple of months of this year, official data was suggesting the housing market was losing some momentum and that increased supply of second-hand housing — elicited by higher prices, the decline in cash buyers on the basis that cash buyers have, by definition, to be finite in supply, and more expensive housing — had all combined to take the heat out of the market.

At a national level, average house prices declined by 1.4% in January and 0.4% in February.

Alas, this easing of prices did not last very long and March and April have seen a resumption of the upward trend in prices.