Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

We would have great respect for the Central Bank but my own opinion is that the change in the prudential rules has had more of an effect on prices than the help-to-buy scheme. I did, however, say that the connection between supply and demand is price. If there is a shortage of supply and there is excess demand it will have an effect on price. I would concede to the Deputy that the announcement of the help-to-buy scheme probably had a psychological effect which might have influenced prices. Inputting in the first three months of the year an extra €10 million into the market does not seem to me to affect price very much. That is not the way it works. There are differences of opinion and in this respect I think my opinion is as good as any other opinion that is around at present because there are all sorts of opinions. That is not to say the Deputy's opinion is not good either.