LAST week's launch of apartments at knockdown prices beside the Grand Canal Theatrein the south Docklands generated hits all day long on irishtimes.com and the phones were ringing all day too at selling agents Lisney. With just 21 units to sell, it would have been a doddle in the old days. But with first-time buyers now in the driving seat, it seems they are not in any great hurry to pounce, even in a good city location and where the price seems to be right.

Many clearly feel that the market still has some way to go - possibly on advice from parents who have been burned by property purchases in the last five years - and what seems like a bargain buy one week, may look pricey in the months to come.

Lisney has clocked up a handful of sales so far in the developments and sales agent Kathy Moran is confident of more, given that viewings have been busy, she says.

All the indications are that similar apartments coming on the market in less attractive locations will have to cut their prices by a good deal more before a new generation of buyers is prepared to come on board.