The housing market in Ireland fell sharply in June to the lowest level since February, according to the latest data.
Key points:Rising house prices in Ireland mean the number of people buying and selling homes has slowed downThe number of Irish buyers and sellers fell sharply compared with a year agoThe latest figures showed the number with a mortgage fell to 2.9% compared with 3.3% in June.
The number selling was down to 7.3%, but the number buying was up by 2.2%.
Irish Nationwide Insurance data from the Office of the Chief Statistic shows that there was a fall in the number that bought houses during the period, but a jump in those that sold.
Overall, the number selling rose by 4.4%, while the number buyers increased by 3.1%.
This means there are more buyers and fewer sellers at this time than at any time since the start of the year.
The rise in the proportion of people selling was also a reversal from a year earlier, when the proportion was just 1.4%.
Overall, house sales fell by 1.6 million in June, with a drop of 2.3 million from a month earlier.
The figure for sales of properties fell by 0.5 million, although that was more than a year’s growth from the previous quarter.
The latest numbers will come as little comfort to the Irish government.
The Finance Minister, Paschal Donohoe, has previously called for the country to have a national plan to prevent an oversupply of houses.
He has been pressing for more government support to keep the economy growing, and has said the government could take the government to court if it does not deliver.
This week, the Government said it would set aside €1bn to help Irish builders sell off some of their land to build new houses, although this is not yet an official figure.
Ireland’s National Planning Authority has estimated that by 2025, around 80% of housing stock could be built on less than 30% of available land.