The Royal Institution of Chartered Surveyors (RICS) has confounded the merchants of doom by predicting a resurgence in the province's housing market, with transactions set to rise.

Normally, when the numbers of transactions rise, prices are pulled upwards in their wake. This is of course good news for anyone selling, or planning to sell, a house in coming months.

Not such good news, however, for first time buyers (and their parents). Many were hoping to take advantage of a steep decline in prices to bargain-hunt in 2008.

The kind of house price growth seen in 2006/early 2007 was joyful for homeowners - however, the injection of sanity into the market in the latter quarters of last year was equally welcome to cool the over-heating.

If the RICS prediction is correct - and it should be stressed it is a forecast, not fact - this year will be an interesting one.

Investor enthusiasm has evaporated, hopefully leaving us with the kind of low single-digit growth that will keep homeowners happy - but which also entices first time buyers back into the market.