'House prices may be up again but property market in Ireland is stabilising'

House prices increased by nearly 2.5% in the past year but mortgage advisers claim there is a slowdown that indicates the market is stabilising.A spokesperson said: “The national Residential Property Price Index increased by 2.4% in the 12 months to May.”But that is lower than the 3.4% annual rate of growth that was recorded in April.

Its chairperson Trevor Grant said: “The slowdown in property price growth suggests that property prices are beginning to stabilise.” He said: “It is an encouraging sign for potential home buyers. More buyers may now be incentivised to enter an already busy market, leading to heightened levels of activity.

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