This analysis, which measured the quantum of shoppers on both Grafton Street and Henry Street during peak shopping hours during Q2 2007, suggests that while out-of-town retail centres in Dublin are trading well, they appear to be having no measurable impact on retail trade in the city centre.

An average of over 11,500 people per hour shopped on Henry Street on Saturdays during Q2 2007, while approximately 12,400 persons per hour visited Grafton Street in the same period. These figures are consistent with footfall on both streets in the second quarter of 2006 and compare well with data over the last fiveyear period.

Commenting on the findings, Cormac Kennedy, director of retail at CBRE Ireland said "There is no doubt that the Irish retail market continues to thrive. Recent consumer spending data suggests that the Irish consumer remains very positive. This is borne out in the latest footfall counts which suggest that there has been no let-up in terms of activity on Dublin's prime shopping streets. This further proves that the commercial property market is performing out of synch with the residential sector at present."