Ms Caren Gallagher:

Based on our analysis mostly in respect of the number of tenancy registrations, the current system that captures the data on individual landlords would allow for those figures not to reflect the full tenancy piece. As Mr. Byrne said, we capture the number of tenants and that is more of a direct reflection of the contraction of the sector. Without going into detail, the way our system works at the moment means that depending on how the landlord registers the tenancy, sometimes the system does not reflect the landlord piece.