Quotes of the Week 23/05

"I am delighted to be able to confirm that we certainly are at a better place than when we discussed the matter last October" - Ken MacDonald, Hooke & MacDonald

"The over-supply of available property is likely to mean that rents will continue to fall and at a time when main costs of living such as groceries and energy are rising rapidly, the news that rents are falling should be a welcome relief for renters." - Ronan Lyons, economist, Daft.ie

"It is far from clear what the effects of the NCA's media intervention in the house sales controversy will be. It is quite possible that attempts at resolving this issue in the full glare of the media may turn out to be counterproductive if further remedial action is not taken." - Fintan McNamara, IPAV.

"Millions of euro have been spent on ground testing, preparatory work and demolition on these sites, and much of the original housing has been knocked. This is going to leave parts of Dublin looking like Beirut." - Christy Burke, Sinn Féin group leader.

"The waiting lists for social and affordable housing in Dublin are the highest in the country and this deal collapse, due to Cowen's property crash, means that these people face an uncertain future" - Terence Flanagan, housing spokesman, Fine Gael.

"The adversely changed circumstances of the current private housing market to that of 2005/2006 when the bids were submitted, along with the significant additional costs of increased apartment sizes and new energy regulations, have rendered the whole concept of using the sale of private housing units to fund Social and Affordable Housing and Community Services along with a balancing site purchase figure, unsustainable in the current market, despite the best efforts of everybody involved." - Letter from Bernard McNamara & Co. to the Dublin City Council.

"We take the view that employment in construction will be almost 50,000 off its quarter one 2007 peak by the end of 2009." - FAS.

‘‘There are enormous opportunities for both HPEG [Beijing-based Heydey Property Enterprise Group] and Bannon clients in the Chinese market” - Neil Bannon, managing director, Bannon Commercial.

"It is necessary to have restrictions while construction is going on but I would like to see a more permanent solution, to make the city centre a much friendlier place to do business" - John Henry, chairman, Dublin Transportation Office.