Now that Stamp Duty has been abolished for First Time Buyers, a certain stability has returned to the property market. However with speculation of further reductions in property prices, are property buyers ready to buy?

Buyers need reassurance that they are not paying over the odds for a property that is going to drop in price. Some property owners who are trading up are selling now and waiting to buy later. Their expectation is that by selling now they will get the maximum value for their house, and by postponing the purchase of a new property they will take advantage of further price decreases.

One way of assuring a buyer that they are not paying over the odds is to sell your house direct and pass on the cost savings to the buyer in terms of a lower property price. This is a win-win situation for both the property buyer and sell. In fact, many property sellers are now cutting out the middle man, the estate agent, and using the substantial cost saving to give a better deal both to themselves and the buyer.

Sellityourself.ie offers property sellers the assistance they need to sell their property without an estate agent. Sellityourself.ie offers sellers the opporunity to save the 1.5% commission plus vat charged by estate agents (as much as €8000 on a house valued at €450,000). This cost saving can be passed on to property buyers by way of a reduction in house price.

While there is still nothing in the overall data to suggest that the market is starting to experience a hard landing, the longer-term trend is still towards a gradual slowdown in the market. According to Jim Power, chief economist with Friends First, house price inflation is likely to average around 3% per annum out to 2010. Such a ‘soft landing’ for the market would be desirable and improve the longer-term sustainability of the market.

If you have any comments on this subject we would be delighted to hear them.