Fionnuala Earley
Fionnuala Earley
continued few further market mortgage next pickup strengthen
The continued pickup in mortgage approvals suggests that the market will strengthen further over the next few months.
activity background contained continue cool current expect growth last market prices rates return seen time
The current background suggests that the market will continue to cool in a contained fashion, but it will be some time before we can expect prices and activity to return to the growth rates seen in the last two years.
attracts continuing correction house inflation likely lower predicted prices rapid rather seeing smooth thus
Rather than seeing a rapid and significant correction in house prices as predicted by some, we are more likely to see a continuing smooth slowdown as lower price inflation attracts more demand, and thus liquidity, into the market.
agents agreement buyer buyers estate increasing interest price reaching reporting
Estate agents are reporting increasing buyer interest and that buyers and sellers are reaching agreement on price more readily,
housing increase market price seen since start strong trend
The housing market got off to a strong start in 2006. This is a significant increase in price and confirms the strengthening trend we have seen since October.
economy expectation firmly growth house low price remain single
Our expectation is that house price growth will remain firmly in low single digits in 2006 as the economy recovers.
agents buyer estate few help increased interest last market reported support
Estate agents have consistently reported increased buyer interest over the last few months, which should help to support the market going forward,
adjust debt demand expect increase levels overall thus widespread
Affordability and overall debt levels will still have to adjust to more comfortable levels before we can expect any widespread increase in demand and thus prices,
accelerate annual cause cut early economy expect house inflation interest levels likely market move next present price quite rates seen swiftly
While there is uncertainty about the economy at present we still expect the next move in interest rates will be down and that this is likely early in 2006. But while the market responded quite swiftly to the rate cut in August, we do not expect a cut to cause annual house price inflation to accelerate back up to levels seen in early 2005.