After soaring in value during the first half of this year, the latest industry figures suggest house price growth in the second hand market was just 2.6% in the three months between July and September.
Estate agent Sherry Fitzgerald said the cooler growth was even more evident in Dublin, where growth was 1.5% in the quarter.
The nine-month growth figure nationwide, however, was 17.9%, while the Dublin figure was 23%.
Sherry Fitzgerald economist Marian Finnegan welcomed what she described as a 'soft landing' for the housing market following the 'spectacular' rises in the first six months of 2006. She added, however, that 2006 would still be one of the strongest years on record for house price inflation.
Ms Finnegan said the main factor in the price moderation was higher interest rates.
Meanwhile, Hooke & MacDonald has said delays and obstacles in the planning system are limiting the supply of new homes in and around Dublin.
The estate agent claims its research shows that An Bord Pleanála turned down developments amounting to 6,000 residential units in Dublin in the year to June. It says that in the case of more than half of these units, the board refused developments which had already been approved by local authorities.
Hooke & MacDonald also says the board is failing to meet its target of determining 90% of cases within 18 weeks. It concludes that there will be 'serious supply deficiencies' in the next 18 months if this trend persists.
