Quotes of the Week

Week starting 8.12.2008

"Clearly, the fear of job loss is deterring people from making major long-term spending commitments such as house purchase." Austin Hughes, Economist, KBC Bank, Irish Independent, 10.12.2008

"The number of properties going off the market, either through sales or withdrawals, has been higher than the numbers coming onto the market every single month this year." Marian Finnegan, Chief Economist, Sherry FitzGerald, Sunday Business Post, 07.12.2008

"Buyers have disappeared and will only be tempted back when they see value to be had. Overall, this year investment property has probably dropped in value by over 30 per cent and has further to fall." John Moran, incoming managing director of Jones Lang LaSalle Ireland, Sunday Business Post, 07.12.2008

"The auction market as a method of sale has declined rapidly since its peak in 2006... This was to be expected because the changed market environment meant that best advice from auctioneers for the bulk of sales, especially this year, was the private treaty method." Paul Murgatroyd, Economist, Douglas Newman Good, Sunday Business Post, 07.12.2008