Oireachtas Joint and Select Committees

Thursday, 2 April 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Photo of Kieran O'DonnellKieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

Does Mr. Moran believe agents had a duty of care? Reading back, he says the property market was supported by the economy. In our case, it was driving the economy. It accounted for some 25% of GDP when it should have been only 8%, 9% or 10%. He says it peaked on 30 September 2007, but it is now generally acknowledged that it peaked around July 2006. Jones Lang LaSalle is one of the main estate agents and puts itself forward as such. However, the ordinary person would have to ask this question. How can it state the property market peaked 14 months after the time we now know that it peaked, in July 2006?

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