A number of potential house buyers are spending a second night queuing outside a new development in Swords, Co Dublin, which go on sale on Saturday.

The houses at Millers Glen are the first phase in a development by Gannon Homes.

The development was completed with funding from the National Asset Management Agency.

The 60 houses are priced between €240,000 and €400,00 and will be sold on a first come, first served basis at a fixed price.

Yesterday, a property valuation expert who identified a bubble in the Irish housing market in 2003 warned that the Government may need to take action now to prevent a repeat.

Frank Quinn said the Government may need to "drive investors out" of the residential property market in order to make room for first-time buyers which could be done by increasing stamp duty.