Dramatic increases in pedestrian footfall on Dublin's prime shopping streets continued in the second quarter of 2000, leading to rising rental levels. An average 19,500 shoppers visited Grafton Street on Saturdays this quarter, 44 per cent more than for the same period last year, according to Gunne Commercial's research department. An average of 20,000 pedestrians was recorded on Saturdays on Henry Street in the second quarter this year.

Demand for properties on these shopping streets and those near them is very strong, and rents are rising: a recent benchmark letting on Henry Street achieved a rental of £235 per sq ft. A lack of Grafton Street properties is driving up rents on Wicklow Street, South Anne Street and Duke Street.

Increases in disposable income because of tax cuts and a dramatic rise in the number of shoppers from Northern Ireland and the UK because of the pound/sterling difference are behind the shopping boom.