Michael Noonan (Limerick East, Fine Gael)
Link to this: Individually | In context

Question 99: To ask the Minister for Finance his views on the exposure of the economy to reversals in the housing market; and if he will make a statement on the matter. [29909/04]

Brian Cowen (Laois-Offaly, Fianna Fail)
Link to this: Individually | In context

Recent years have seen a rapid increase in output in the residential construction sector. In 2003, housing construction accounted for just over 10% of GNP. While I would expect a normal easing back of housing output in the coming years construction sector demand should be assisted by a continuation of a strong public capital programme and a pick up in other investment. Most commentators believe the Irish housing market is underpinned by sound economic fundamentals and favourable demographics which must also be taken into account.