The Taoiseach Bertie Ahern has said he believes confusion over what will happen to stamp duty following the Irish election is contributing to a slowdown in the housing market.

Mr Ahern said he believed the number of promises by political parties implies the electorate ‘is not sure what to believe’.

The confusion is adding to a slowdown in the market. Figures from the Permanent TSB/ESRI house price index reported that the average price paid for a house in Ireland in March was down by 0.6% or €2,007 less than reported in February.

Only houses in Dublin and houses bought by first-time buyers bucked this trend.

Permanent TSB/ESRI said in the first three months of this year, the average national house price fell by 0.5%. But, when compared over the last 12 months, house prices have grown by 7.4%.

Mr Ahern believes the housing market will moderate once the election is over.