This time last year, the housing market in Ireland was red-hot with prices rising year-on-year well into the teens. But according to the latest myhome.ie survey asking prices have fallen for three consecutive quarters. On top of that houses are being sold for just one percent above asking price versus 6% this time last year.

Are we looking at the start of a notable correction or is this just the market finding its right equilibrium?

Conall MacCoille from Davys is the author of the myHome.ie house price survey and joined Joe Lynam on the show this morning.