House Price Register

handlemaster

davet82 wrote: »

pretty much, from what i've seen from the area i'm looking anyways.

a friend of mine enquired about a house that the EA told him 'there was little space to manoeuvre on as the house was already priced to sell at 192k' which appeared to be true if you looked at the asking prices in the area.

the house sold and is on the PPR as being sold for 155k, he was pee'd off but also relieved he didnt pay an extra 37k for it and now he has a real idea what the houses in that estate are really worth

I seen last months report showing two houses same estate same spec one went for 63k the other 75k..

gurramok

handlemaster wrote: »

so 10 -20 % off asking price. That would be about right I would think

Also noticed that the same here. One house a few doors down took about 2 months to appear on the register since the sold sign went up, quite strange. Rumour was the bank was selling it as a repossession, this is in an established area, not a new build.

John Mason

I was looking at the register there and noticed my house was up as sold as in 2011.

I have lived there for 8 years, so it was my re-mortgage figures which means the figures are completely misleading.

there are astricks beside the figure saying it was not for the full market value which means it is even more mislaiding.

There is a house I bid on a few months ago, gone up for 6k lower than my final offer.

Am inclined to call Shenanigans but doubt it is worth following up. Still, very glad the register is here, the house we are about to close on seems like a good buy compared to properties in the area.

Ritchi

Deleted User wrote: »

There is a house I bid on a few months ago, gone up for 6k lower than my final offer.

Am inclined to call Shenanigans but doubt it is worth following up. Still, very glad the register is here, the house we are about to close on seems like a good buy compared to properties in the area.

It's possible that they sale agreed at a higher offer, but renegotiated down after something turned up in the survey. Or that they reported it wrong. Or there is the chance that the EA was playing games.

I'd say it isn't worth the effort to be honest.

sidcon

I purchased a house in May of this year but it still has not shown up on the register. I emailed my solicitor and the info@pricepropertyregister.ie and I'm getting no response, anyone any suggestions what to do?? It was bought seriously under market value and houses that sold after that are listed but a good 60k more.

handlemaster

sidcon wrote: »

I purchased a house in May of this year but it still has not shown up on the register. I emailed my solicitor and the info@pricepropertyregister.ie and I'm getting no response, anyone any suggestions what to do?? It was bought seriously under market value and houses that sold after that are listed but a good 60k more.

good for you. why would you want to announce it then. If and when you go to sell it would look better for you

sidcon

handlemaster wrote: »

good for you. why would you want to announce it then. If and when you go to sell it would look better for you

I'm think further down the line and with the impending household tax which is based on price of the house in the area, if my price is listed then I will end up paying less tax as will my neighbours

Monty Burnz

sidcon wrote: »

I'm think further down the line and with the impending household tax which is based on price of the house in the area, if my price is listed then I will end up paying less tax as will my neighbours

Not if your property has has a similar market value. You say the price you paid was way below market value, and market value is what the tax is based on.

(of course it should be sitevalue, but that's a whole other story)

davet82

Register Last Updated: 27/11/2012 15:42:45

new feature added to the search page, it gives you the last date/time the register was updated, nice.

Zamboni

davet82 wrote: »

new feature added to the search page, it gives you the last date/time the register was updated, nice.

I can only imagine the over time and xmas bonus the developer gets for that massively complicated add on...:pac:

fuzzy1

A house in Broadford on the same road went for 220k in September. One just sold in December for 297k. Why would anyone pay this much of a difference for the same house?

Bigcheeze

fuzzy1 wrote: »

A house in Broadford on the same road went for 220k in September. One just sold in December for 297k. Why would anyone pay this much of a difference for the same house?

How do you know they're the same house ? One could be 3 bed, the other 5 bed on the same road.

fuzzy1

I know it has the same as I grew up there and all the houses are the same size. Also I just googled it both are three beds and both are the same size.

I have been looking at other houses around the area and there are huge differences in the prices being paid, for example in Woodpark 2 The Green went for 244k in May 2012 while 27 The Green went for 357k in November. Ok the latter looks nicer on the inside but surely its not worth this difference? Are these prices right?
I just don't understand why people are paying sometimes over a €100,000 in the difference for similar houses in the same estate, especially now that you can see on the register what the houses are going for. Any ideas on this?

xper

Well, a quick check on Google Map's satellite and streetview of Woodpark shows that, not surprisingly for an estate of that age, there has been a variety of extensions made across the once identical housing stock over the years. That, the difference in garden aspects and the general condition of the property can account for up to several tens of thousands in the difference. Throw in the bidding war madness that took hold in south Dublin in the last few months of the year ahead of MIR abolition and, hey presto, >25% jumps in prices within estates between early 2012 and late 2012.

davet82

fuzzy1 wrote: »

I just don't understand why people are paying sometimes over a €100,000 in the difference for similar houses in the same estate, especially now that you can see on the register what the houses are going for. Any ideas on this?

cause some people are idiots, i've seen gaps of 50k between pretty much the exact same house, the register is pretty new and with not a hell of alot data to compare and some people are just caught out i guess

Galego

davet82 wrote: »

cause some people are idiots, i've seen gaps of 50k between pretty much the exact same house, the register is pretty new and with not a hell of alot data to compare and some people are just caught out i guess

Next step in the right direction for the Irish House Market would be to be able to view other existing bids in the house which you are bidding for. A database which states all current bids, amounts, dates and whether or not they have been rejected. As far as I know this happens in other EU countries already. This will stop greedy EAs making fake bids and pushing people to over-pay for a house unnecessary.

flintash

Galego wrote: »

Next step in the right direction for the Irish House Market would be to be able to view other existing bids in the house which you are bidding for. A database which states all current bids, amounts, dates and whether or not they have been rejected. As far as I know this happens in other EU countries already. This will stop greedy EAs making fake bids and pushing people to over-pay for a house unnecessary.

Why everything better exist in these mysterious EU countries that Irish can no avail? Are you sure you not talking about 'database' called AUCTION ?
But anyway, no offense but nobodies pushing people overpaying for any house. You pay what you think is worth and surely if you can afford it. If its hard for people to judge value of the house , then there are professionals for that.

Galego

flintash wrote: »

Why everything better exist in these mysterious EU countries that Irish can no avail? Are you sure you not talking about 'database' called AUCTION ?
But anyway, no offense but nobodies pushing people overpaying for any house. You pay what you think is worth and surely if you can afford it. If its hard for people to judge value of the house , then there are professionals for that.

I dont know how it works in each EU country; I can only talk about the one which I am from. When a house is up for sale and you wish to enter a bid, you do it in the register (or the EA does in your behalf). This bid can then be accepted, rejected or leave for consideration by the seller. This information is available to the public. The whole point is of this is to ensure transparency.

My experience in Ireland has been that the EA always tells me that there is already an offer and the seller has rejected it although I know for a fact there was never a bid and it was just the EA "bull****ting" me. In another case, I made an offer for a house and the EA never passed it on the seller, no idea why not.

IMO, the whole EA business should be better regulated.

flintash

What country we speaking of, if you not afraid or embarrassed to identify it with yourself.
Well, if you're foreigner yourself, then you would understand me when I say , its all down to Irish work culture, isnit?

pwurple

We have had these sorts of experiences with agents also, both as a seller and as a buyer. Estate agent told me he sold the house 5 doors down for 210k a few weeks previously, and mine will get about the same... Some time later the property register comes along and I see he actually sold it for 175k.

I phone the office of an agent and ask about bids on a house... Told there are none. I phone the agent himself to put in a bid, and am told there is an active bid and mine has to be higher than that. My dad knows the people selling the house, gives them a call, there is no bid, and never was.

There are honest agents, hardworking, and underappreciated. The agent we eventually used put 60 viewings through our house, evenings, weekends... and negotiated sale agreed 3 times before it sold. Savage amount of work for the fee he got. But the bad apples really give them a bad reputation. A way of reporting these jokers would be beneficial for the whole industry.

cork_south

The register has been updated today. Unsurprisingly there are very few entries for 2013.

hiho1967

pwurple wrote: »

We have had these sorts of experiences with agents also, both as a seller and as a buyer. Estate agent told me he sold the house 5 doors down for 210k a few weeks previously, and mine will get about the same... Some time later the property register comes along and I see he actually sold it for 175k.

I phone the office of an agent and ask about bids on a house... Told there are none. I phone the agent himself to put in a bid, and am told there is an active bid and mine has to be higher than that. My dad knows the people selling the house, gives them a call, there is no bid, and never was.

There are honest agents, hardworking, and underappreciated. The agent we eventually used put 60 viewings through our house, evenings, weekends... and negotiated sale agreed 3 times before it sold. Savage amount of work for the fee he got. But the bad apples really give them a bad reputation. A way of reporting these jokers would be beneficial for the whole industry.

60 viewings and 3 sale agreed:eek: How long did this go on for. I actuly have my own house up for sale and have had in the region of 25 viewings and i thought this was alot, ill have no hair left if i have to go through 60 because ill be pulling it all out. Can you tell me why it took 60 viewings before it sold

mark renton

Are estate agents the new bankers?

The_Conductor

cork_south wrote: »

The register has been updated today. Unsurprisingly there are very few entries for 2013.

It is only the 10th of January! Wait until the end of the March to get any sort of an idea as to whats happening.

Zamboni

mark renton wrote: »

Are estate agents the new bankers?

Estate Agents - Incompetent individuals having to actually work now

versus

Bankers - Incompetent/malevolent individuals doing business as usual


Nope

cork_south

smccarrick wrote: »

It is only the 10th of January! Wait until the end of the March to get any sort of an idea as to whats happening.

Absolutely.
Interesting few months ahead that should show the true effect of MIR removal and the introduction of the property tax.

RATM

cork_south wrote: »

Absolutely.
Interesting few months ahead that should show the true effect of MIR removal and the introduction of the property tax.

But surely if the transaction volumes remain as low as they are we can't draw any concrete conclusions ? Not that I don't want to but house sale volumes are only a fraction of a normal functioning market so I think there's a need to put caveats on any conclusions drawn.

The_Conductor

RATM wrote: »

But surely if the transaction volumes remain as low as they are we can't draw any concrete conclusions ? Not that I don't want to but house sale volumes are only a fraction of a normal functioning market so I think there's a need to put caveats on any conclusions drawn.

Absolutely- until we have a normal functioning market, its impossible to ascribe any particular degree of accuracy to the figures in the register. Add to this the manner in which the national market is fragmenting- with separate distinct markets in Dublin/Cork/Galway, contrary to what you'd expect Clare seems to be doing remarkably well- and the brunt of the carnage seems to be in the midlands and all those satellite towns who proclaimed themselves as within commuting distance of Dublin.

So- we've low volumes- and alongside this very localised shortages of supply keeping certain areas (such as South Dublin) bouyant (but even in South Dublin- NAMA have over 4,500 vacant apartments- in varying degrees of completion.........)

How long will it take us to reach a functioning market- good question. Given the state of our banking sector- it could well be a decade, or even longer- this is on parr with international norms- though I shudder to hold Japan up as an example.

senordingdong

davet82 wrote: »

cause some people are idiots, i've seen gaps of 50k between pretty much the exact same house, the register is pretty new and with not a hell of alot data to compare and some people are just caught out i guess

But this doesn't seem to outline anything about the property, whether or not it has had any improvements or even how many bedrooms it has.