Property prices continue to rise making the prospect of home ownership for many an impossible dream.
While government statistics for 1999 show that the level of price increases is moderating, nationally prices rose by 16 per cent for second hand houses. In 1998, this figure was 37 per cent.
House prices are still the dominant topic of conversation.
Prices rose by 22 per cent in Dublin in 1999. In 1998, the figure was 42 per cent.
First time buyers continue to struggle with the average price of a house nationally now at around £100,000. In Dublin, the figure is closer to £130,000.
Alan Cooke, IAVI, refutes any claims that the property bubble is going to burst and says the prospect is more for a slow deceleration of the rate of house price growth.
Prices are still going to continue to rise.
It is estimated that in the middle market with prices between £400,000 and £750,000, prices may have peaked.
According to Ciaran Murphy of Threshold, the situation continues to worsen as more people are being priced out of the property market now than there were a year ago.
With just 4,000 local authority housing units built in 1999, the National Development Plan target of 22,000 over four years may not be reached. There are now almost 40,000 households waiting for social housing.
An RTÉ News report broadcast on 10 May 2000. The reporter is Tony Connelly.
