Terence Flanagan (Dublin North East, Independent)
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59. To ask the Minister for Finance his views on remarks from the National Asset Management Agency that the property slump is over; and if he will make a statement on the matter. [3418/14]

Michael Noonan (Limerick City, Fine Gael)
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The recent positive pricing reports and the NAMA announcement on the closure of the 80:20 as it has achieved its objectives are a welcome sign of stabilisation in the residential property market and a return to more sustainable, normalised conditions. Activity in the market has increased particularly in the larger urban areas but it will be some time before a nationwide recovery of the property market will be evident.  In the meantime issues such as supply and demand, credit and funding availability will remain part of our focus and review.