Mortgage Maze: All Ireland price register needed
The Society of Chartered Surveyors Ireland has called for a National Property Price Register to be established as a matter of urgency in order to provide the public with a complete set of transparent information on house prices in all regions of Ireland.
A register would give full details on individual property sales and purchases across the country.
The society said the house price figures published by the CSO do not go far enough to show the true extent of the decline in property values nationwide as an index and that a full register containing actual property selling prices is needed.
Ed Carey, chairman of the society’s residential professional group, said a National Property Price Register would enable consumers to see the actual selling price of every property in every part of the country and would enhance consumer confidence in the market.
“Consumers want to see details of actual property prices, and the only way to do this is to make this data available to the public by establishing the register and amending the data protection legislation. It would also bring us in line with other European countries where this data is readily available and used by consumers,” he said.
“Consumers require higher levels of professionalism, accountability and regulation and we would urge government to enact the legislation which will go a long way to providing transparency in the property market as well as enhanced consumer protection,” he concluded.