CB Richard Ellis reporting recovery in property market
The latest report on the property market here suggests that things might not be as bad as we think.
CB Richard Ellis have said that there has been a recovery in the new homes market since Christmas, mostly in Dublin.
Developer's efforts to attract buyers are paying off with agents are reporting high viewing numbers this year, and people eager to take advantage of reduced prices.
And it's thought this is set to continue if there are the predicted interest rate cuts during the year.
The property consultants acknowledge some difficulty in the market, with the cost of borrowing cited as a big issue.
It also predicts that house completion levels will fall even further this year to around 50,000 units, with 20% of these in Dublin.
