Property Price Register – A good idea that can be made better – Lynch

Speaking during a Topical Issue Debate in the Dáil today with Minister for Justice, Alan Shatter, Labour T.D. Ciaran Lynch, called for additional information to be added to the Property Price Register.

“The price of all property sold in Ireland since the 1st January 2012 is now available to the general public at the click of a button at; The creation of this Property Price Register has lead to greater transparency in the property market, adding to the normalisation of house prices.

“The establishment of the Register is not just another promise fulfilled from the Programme for Government, but is also something that I, and the Labour Party have been calling for for years. Its creation has no doubt dispelled much of the uncertainty around buying property, particularly for first -time buyers, as they are able to buy a home armed with knowledge of the true value of the property.

“While the availability of more accurate information is to be welcomed, I believe that this register can be improved further. Currently it is not possible to decipher from the register the property size, number of bedrooms or type of property, e.g. apartment, terraced or detached property.

“It is very difficult to judge the relative true value of a property without this information, and the addition of these details would add greatly to the register. It could also be easily done, as all this information is made available at the time of sale for conveyance purposes.

“Realistic property prices are essential if we are to restore confidence in the property market so that people wanting to buy a home can do so, and I will continue my calls for the improvement of the Property Price Register- a good idea that can be made better.”