Mr. Micheál Mahon:

On the issue of costs, particularly site costs, it is difficult to answer because a site in one area can be more expensive than in another. The Deputy raised a very valid point. The hard cost depends on housing specification, etc., but it is under 50% of the overall cost of the provision of a unit. The Deputy is 100% correct regarding the pressure exerted. That is why we advocate a Minister with responsibility for construction examine the overall output of the industry and likely demands. If we double housing output, which is what is required, there will be supply and demand pressures. We recently published a tender index for 2015 that indicated the level of tender price inflation affecting construction was 5.5% in that year. If we double housing output and private sector investment increases, there will be upward pressure on prices. The Deputy is correct in that regard.