Budget could 'make or break' housing market, say brokers

Mortgage brokers are warning that this week's Budget could make or break the housing market in 2008.

Research by IIB Bank and the Irish Mortgage Advisors Federation shows that half of brokers are reporting weaker market conditions in recent months.

Four-in-10 believe a cut in interest rates would help the market, but more than one-third say a boost in confidence in the Irish economy would have the biggest impact.

They say if Minister for Finance Brian Cowen cannot boost confidence in Wednesday's Budget, the market will continue to slide next year.