James Reilly (Dublin North, Fine Gael)
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Question 1079: To ask the Minister for the Environment, Heritage and Local Government if he has proposals to implement a reporting system which would act as an indicator or early warning system of any potential slowdown or over pricing in the housing market; and if he will make a statement on the matter. [20252/07]

Batt O'Keeffe (Cork North West, Fianna Fail)
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The significance of the construction industry, including the housing sector, to the Irish economy is acknowledged by my Department, which has regard on an ongoing basis to relevant reporting by a range of public and private sector bodies, and closely monitors developments so as to provide effective input to policy in relation to housing.

Government policy has been informed, over recent years, by a range of reports and recommendations, including three reports on the housing market by Peter Bacon and Associates in the period 1998 to 2000, The National Economic and Social Council report on the housing sector in 2004 and the Sustaining Progress and Towards 2016 Social Partnership agreements.

My Department collects and disseminates a wide range of private market and social housing statistics through its quarterly and annual housing statistics bulletins. It also produces an index to monitor the impact of changes in house prices, taxation, and interest rates on the affordability of new houses, which is published in the Annual Housing Statistics Bulletins. In addition, my Department commissions an independent economic assessment by DKM Economic Consultants of construction activity and prospects each year. The latest "Review of the Construction Industry 2006 and Outlook for 2007-2009" was published on 24 September 2007. DKM Economic Consultants also produce a regular update of "Construction Industry Indicators" throughout the year on behalf of my Department. These provide the most up to date independent assessment of all of the available data on the housing market in terms of both output and prices.