Make house sale prices public, urge auctioneers
The Government has been urged to establish a national property price register in order to provide vendors and buyers with the transparency required for the housing market to "operate efficiently".
The president of the Irish Auctioneers and Valuers' Institute (IAVI), Aine Myler, said yesterday that, although she had been "encouraged" by the inclusion of a proposed property register in the recent Programme for Government, there does not seem to be any motivation by the Government to establish the register.
"I can read precise details of rental yields and sale prices of shops on Grafton Street in the commercial property pages in the media, but I cannot read about what a three-bed semi in Dublin, Cork or Galway sold for."
She added that such data was publicly available in the UK, and said a "real-time and accurate register" was needed in this country.
Addressing the IAVI's annual conference, Ms Myler said the association would continue to lobby the Government to establish the register, which she claimed would have "great economic value".
She also said that improved regulation was required for the industry and that if Justice and Law Reform Minister Dermot Ahern had the "time and inclination" to introduce a law on blasphemy, he "surely had the time to regulate this industry".
"At a time when great criticism exists around the failure of 'light-touch' regulation, how does the Government justify the (lack of) statutory regulation in this important professional and consumer area?"
The Government's Property Services (Regulation) Bill, when enacted, will empower the Property Services Regulation Authority to regulate the sector.