Property or shares - which should you invest in? That was the key question in the great investment debate held in Dublin yesterday.

The conference, organised by Goodbody Stockbrokers and DTZ Sherry FitzGerald and sponsored by The Irish Times, explored the merits of the two forms of investment.

Should you opt for the potentially high return on the sometimes volatile stock market or would your money be better tied up in the traditionally safe return from bricks and mortar?

Mr Colin Hunt, head of research at Goodbody Stockbrokers, said equity investments had outperformed all others since 1973.

In addition, he said, equity investments were not limited by scale, time or place. They offered greater flexibility and diversification had reduced the risk.

"Property has its place - you need somewhere to live. But equities have a clear advantage," he said.

Mr Killian O'Higgins, managing director of DTZ Sherry Fitzgerald, argued that returns from property were superior and that it was a safer investment - the investor has invested in something tangible and physical.

"It is not a piece of paper where you wake up in the morning wondering what it's worth," he said.

Equity V Property - The Issues examined in next week's Business This Week.