"My role is to help safeguard the livelihoods of people working in the industry," said Tom Parlon yesterday as he was formally appointed director general of the Construction Industry Federation (CIF). He joined the CIF as director general designate in October 2007 following the retirement of Liam Kelleher.

"We are entering a more challenging period and CIF will actively represent and defend the sector," he said.

With regard to the housing sector, Parlon says the CIF is "confident" that the "very good value and choice" that is now in the market will be recognised by buyers which, "alongside the clarity, certainty and savings which the budget changes to stamp duty brings, should re-ignite the market in 2008."

Meanwhile, Marion Finnegan, chief economist with Sherry FitzGerald, said 2007 was "a challenging year" for the property market, and that the outlook for 2008 is brighter.

"The ending of speculation in relation to stamp duty, greater certainty in terms of the interest-rate environment and a reduction in the supply of new product on the market will facilitate a more robust year in 2008.

"That said, we do not anticipate an immediate revival in price performance, rather a gradual improvement in market sentiment and demand trends."