This study is an economic analysis of the Property Services Industry (PSI) in the Republic of Ireland. It defines the PSI and examines the structure of the industry and its constituent firms. The principal components of PSI output and the key variables which determine the level of output are identified. Data was obtained by means of structured interviews, various published sources and an extensive questionnaire survey circulated to all industry firms. The questionnaire survey was deemed necessary to supplement existing data and provide new additional data not available from published sources. Evaluation was based on statistical analysis, empirical observation and structured interviews. The study confirms the cyclical nature of the industry which broadly applies to both areas of output; agency and professional services. Agency services account for the largest proportion of industry output with residential agency being the most important property sector. The vast majority of the firms in the industry are small in size with less than ten staff and turnover of £100,000 or less. Research undertaken by the private and public sector on the PSI is negligible resulting in a paucity of basic data on output and employment. The primary determinants in output changes are the number of persons employed in the commerce, insurance and finance sector and movements in GNP. The occupation demand for property can be explained by movements in macro-economic variables while investment demand is driven principally by 'market sentiment' and 'instinct' and as a result is more volatile and unpredictable.