Mortgage experts are warning that young couples with children are being left out of the housing market because of the Central Bank's deposit rules.

The Assosication of Expert Mortgage Advisers says the first time buyer market in Dublin will be dominated by the adult children of rich parents if the rules aren't changed.

The Irish Independent reports that mortgages approvals were down 10 percent in October compared to the same month last year.

However the Central Bank says the rules introduced earlier this year are having a positive cooling effect on the market, taking the "froth" from property prices.