The most upbeat report of the day came from National Irish Bank, as their chief economist predicted a massive 60,000 housing units could be built in 2007, some 10,000 higher than consensus estimates.

Estate agents CB Richard Ellis carried on the feelgood factor, telling buyers that now was the time to pounce before "inducements" currently in the housing market disappeared towards the end of 2008 as the market rebounded.

Meanwhile, AIB struck a decidedly cooler note in its monthly housing bulletin, and their economist is now predicting house prices will record drops of as much as 6pc in the first few months of 2008.

Continue reading from source:  Independent.ie