Just over one in ten people are planning to buy a new home this year according to a survey from MyHome.ie
Purchasers said they can't see a way through the current housing situation and are concerned about rising prices.
The recent rise in the cost of living looks set to stop potential house buyers from going ahead with the purchase of a property.
Cost of Living Crisis Impacting Sales
The survey found that 59% of homebuyers believe prices will increase in the next year while 52% of buyers say the rise in the cost of living has affected their ability to purchase.
Managing Director of MyHome.ie Joanne Geary, said the market is very volitile and people are worried.
"They don't see a light at the end of the tunnel. It's an ongoing situation where people are seeing price increases.
"We found that 74% of respondents continue to be worried about the state of the property market in general."
