Quotes of the Week

Week starting 20.10.2008

"I would say that over half the developers in Northern Ireland are waiting for a call (from the bank)" Brendan Cunnane, Construction and Property Group, on Taggart Holding's demise, The Irish Times, 24.10.2008

"Very reluctantly over the last number of months we've seen some very good people leave us through redundancy." Sherry FitzGerald chairman Mark FitzGerald, The Irish Times, 23.10.2008

"With the market in the doldrums, questions are being raised on why more detailed information on this sector is still not readily available to the market. How much is a house worth and who sets the price?" Pat Igoe, Solicitor, The Irish Times, 23.10.2008

"The property business has been cyclical since Adam was a boy. You have to expect ups and downs. But the up always comes." Ray Grehan, Glenkerrin Homes, Irish Independent, 22.10.2008

"There is now a widespread belief that the valuations of the properties which are held as security by the Irish banks are not realistic and do not reflect conditions in the property market." Bill Nowlan, Chartered Surveyor, The Irish Times, 22.10.2008

"The fact is that most first-time buyers don't need incentivising. All the available evidence suggests that they're holding off buying now because they're waiting on prices to level off." Brenda McNally, Sunday Tribune, 19.10.2008

"The overhang of housing stock is expected to take until at least the first half of 2010 to clear." Killian Jones, an analyst at Merrion Stockbrokers, Irish Independent, 18.10.2008