Citing Carlow as the worst affected, independent adviser Eamonn Long said he expects mortgage lending to become increasingly tight.
Thousands of home owners in the area have already fallen in to negative equity. This number looks set to rise by the end of the year.
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Mr Long told the Carlow People: "Lending institutions are not interested at all in the market of second houses at all. You need to have good employment and a good saving record, they are key factors in getting a mortgage.
"I am noticing things become more strict week by week and until NAMA has sorted out all of these bad debts things won't change."
He suggested potential buyer are a lot wiser now, and appear to be holding off until the market 'bottoms out' further.
(PR/GK)
