Ms Dara Deering:

The Chairman is right that the cost of construction will be less outside Dublin. He is right that the cost of construction for houses is less than apartments, but the cost of construction for houses takes into consideration the construction itself and other factors, such as land. I accept that land prices will be different in other places. It also includes other soft costs, such as the cost of finance that has to be in place. That is why our average house price is €319,000. It reflects the construction costs.