WHO said the property market was dead? The latest weekly gazette from Business Barometer has clear evidence that this is not the case. It reports that no fewer than 3,431 new companies involved in real estate have been set up in Ireland this year. This represents over 32 per cent of all start-ups registered since January.

Unsurprisingly new construction companies lagged behind, though we’re surprised to read that 824 new companies involved in construction started up. What can all these real-estate companies be doing, and where on earth are they getting the funding?

Some undboubtedly are individual agents who have been laid off by larger firms and have had no option but to go it alone. Others may brand new versions of older companies that have run into financial difficulties. Yet others may be small investment companies hoping to mop up a bargain or two as the Nama machine gets going. Either way, there’s life in the old market yet!