Quotes of the week

John McCartney, Savills: “I think the industry has worked out itself that we’re getting to the point where we’re building just about the right amount of dwellings per annum to meet the demand that’s there in the medium term. I don’t think it’s going to be anything like what we had a decade ago. It’s an entirely different dynamic.”

Keith Lowe, DNG: "I do think the Central Bank’s rules are a little harsh and should be softened somewhat. But it is good that they’re there because they have halted an undesirable continuing increase in prices.”

Tom Parlon, CIF: "Central Bank guidelines make it impossible for the average couple to secure mortgages. We’re proposing a shared equity scheme whereby the government takes a small stake in newly-built houses to reduce the level of deposit required to secure a mortgage.”

Eamon Hetherington, GPD Property Developers: "The economics of this simply don't add up. There have been many complaints that developers are building to rent rather than to sell, but with so few individuals or couples qualifying for a mortgage under the current rules, these developers would appear to have little choice."

Tony Waters, HWBC: "Whilst predicting the future can never be certain, the available evidence gives us every reason to think ... if a ‘hard Brexit’ pushes more companies out of the UK we may see [office] rents rising higher.”

Michael Stanley, Cairn Homes: "Considering that our market capitalisation is almost on par with what we spent on the land, that's a reasonable assumption, yes! ... In order for us to scale we needed to assemble a large land bank up front, because we have large sites that for all sorts of reasons we can't build on today."

Investor in Kevin McCloud's property bond: “Obviously I would never have invested if I’d known that Kevin McCloud would bail out early and bond-holders would be left carrying huge losses.”

BPFI’s Chief Economist, Dr. Ali Ugur: “The mismatch between current demand, as well as pent-up demand, and the supply of new homes seems to have brought average sales prices relatively close to the peak of the previous cycle in terms of sale prices. The same mismatch also seems to be affecting rental accommodation in pushing up private sector rents where we have significantly surpassed peak rents from the previous cycle, notwithstanding the fact that rent increases seem to be stabilising. Meanwhile, average income levels in the economy have not increased to the same extent during the period and affordability in the context of the macroprudential rules seems to be having an effect on demand at price levels at which the construction industry seems able to profitably operate.”

Kimmage Party Shop owner, Lyndon McNulty regarding Bus Connects plan: "I have a retail unit on a busy main road, with parking outside. We bought this unit because of where it was located - it was a great area. Our rates have doubled in the last two to three years. Now we just feel like we will be getting less than what we are putting in. This plan will be really bad for business."

Robert Hoban, Offr: "Transparency and trust is key when it comes to buying or selling property and it’s of major concern that 83% of people said they are not confident with the process in Ireland. The perception of fake bids is a huge issue."

Laura Kennedy, Irish Times: "The sofa was the first – and only – we ever bought... It’s now the property of a nice young couple – judging by the accents, I’d guess Romanian, but I didn’t ask... It wouldn’t fit in the new place, you see... It is a good reminder, however – the gaping hole in our living room – of the utter absurdity of being alive, and just how little control we really have in any given situation."