Mr. Brendan McDonagh:

Not at all. What happens is that if a property goes on the market today, it is priced by reference to whatever the market value is today. People let on that there is a huge amount of science involved in this business and there is not. Effectively, much of it is based on the idea that, for example, if an equivalent house down the road sold for €250,000 and this is a similar house, it will be advertised on the market at €250,000. People will then bid on that with the local auctioneer or whoever and will buy the house for whatever they think it is worth. That is the way the market works.