Auctioneers give upbeat forecast for property market

The outlook for Ireland's property market is being described as "cautiously optimistic" by auctioneers today.

At its annual meeting, the Irish Auctioneers and Valuers Institute (IAVI) said the industry had been deeply affected by the economic decline - but insisted that there are signs of stabilisation, mainly in Dublin.

IAVI president Aine Myler called on the Government to make simple legislative changes to the Data Protection Act, so that house prices can become public information.

The conference also noted that there is a need for regulation for both the industry and the consumer.