The Broadcasting Complaints Commission (BCC) has rejected a complaint of partiality against RTÉ Television's Future Shock: Property Crash, programme.
The programme envisaged a collapse in Irish property values and drew criticism from many quarters including from Taoiseach Bertie Ahern.
At the time Mr Ahern described the programme, presented by Richard Curran, as inrresponsible, inaccurate and said he disagreed with almost everything in it.
The Irish Auctioneers and Valuers Institute laid the formal complaint with the BCC claiming it had not been impartial and had a detrimental affect on the property market.
David D'Alton, the managing director of a house building company employing around 90 workers, alleged the programme was sensationalist and endangered construction jobs.
The programme which aired on RTE One last April examined a range of future possible scenarios in the property market.
RTE insisted there was a public interest to examine and consider the worst-case scenario and that it never stated in the programme that a hard landing was inevitable. It told the BCC there were contributors arguing for both a hard landing and a soft landing on the programme. Summarising its findings, the Commission noted that; "the programme-makers ensured that there was balance of opinion by providing sufficient airtime to experts who did not foresee a hard landing".
The programme looked, in context, at the possiblity property prices in Ireland might fall in the future, the BCC said.
In its decision the Commission described the programme as "a critical exploration of the property market and in particular the potential of a crash scenario".
It said the subject matter was treated fairly.