The price in 1997 and up until the crash was mainly driven by the demand by, and purchasing power of, private buyers. The property market is completely different now with international capital flooding into the market both here and internationally. That's what's driven price increases here. The same money is driving prices internationally. That's what's driven material cost inflation.Yet from 1997 onwards throughout all or most of the last boom, the prices of new builds typically lagged those of comparable secondhand properties.