House Price Register

koheim · 30-08-2012 12:14pm

This House Price Register is great news - for everybody. I just hope that all information is made available of each transaction. Full transparency is needed, and Ireland must be the only country in Europe where this information is not already available.
Just wished they backdated the transactions 20 years instead of just 2....

kentreaper · 30-08-2012 12:28pm

No.

In the UK, the Land Registry is open to the public who can easily get details of how much a property was sold for, when, to whom etc. This leaves lying Estate Agents in difficulty.

With Google Earth, Zoopla, etc. etc., you can also view the property.

The Republic of Ireland lies behind most countries in this - no transparency, which allows the Agents far too much leeway and with too much involvement and scope for untruths.

By and large, Agents will tell you what you want to hear and are only interested in the sale commission.

The UK method largely bypasses them in the negotiating process - as, in the open market, there are numerous ways of getting information; such as the above and the UK versions of sites such as the Irish 'daftdrop' and 'collapso'.

Idbatterim · 30-08-2012 12:43pm

I was talking to a friend and he wasn't happy at all about the register saying he feels its 'an invasion of privacy' for what he sold and bought his house for, anyone else feel like that?

of course there are arguments against it, is it really anyone's business what we sell anything for, be it a car, house etc? a house is worth what someone is prepared to pay for it, if people are prepared to pay over the odds, that's their decisions / problem...

cursai · 30-08-2012 12:46pm

If the estate agents want to help with the transaction paperwork. Fine. But I don't want a sales pitch with money of such a large amount.
I reckon this is going a large impact on prices.
I recently know from a friend who is an estate agent who sold a house on an estate for 130000 when I went to view the same type house across the road. The agent (different one) was saying it wouldn't be let go for less than 150000. Same house decor was just as well kept, just different taste.

cursai · 30-08-2012 12:49pm

Idbatterim wrote: »

of course there are arguments against it, is it really anyone's business what we sell anything for, be it a car, house etc? a house is worth what someone is prepared to pay for it, if people are prepared to pay over the odds, that's their decisions / problem...

New cars have set prices. The only difference is the dealer. The small sales deals or pricedowns are minimal compared to the massive sums being handed over for houses.

kentreaper · 30-08-2012 12:49pm

Idb - that is all correct.

But the Irish property market is too dependent on Agents who simply have a vested interest, which must be curtailed.

Transparency does this.

Idbatterim · 30-08-2012 12:51pm

New cars have set prices. The only difference is the dealer. The small sales deals or pricedowns are minimal compared to the massive sums being handed over for houses.

I was referring to used cars & I do agree that all in all its for the best, was just playing devil's advocate...

But the Irish property market is too dependent on Agents who simply have a vested interest, which must be curtailed.

Transparency does this.

I agree with this...

cursai · 30-08-2012 12:53pm

Idbatterim wrote: »

I was referring to used cars & I do agree that all in all its for the best, was just playing devil's advocate...

Even more minimal with used cars.

davet82 · 30-08-2012 12:56pm

Idbatterim wrote: »

of course there are arguments against it, is it really anyone's business what we sell anything for, be it a car, house etc? a house is worth what someone is prepared to pay for it, if people are prepared to pay over the odds, that's their decisions / problem...

my friends arguement was that he had bought and sold houses in the last 2 years and what money he made on his dealing would be in the public domain and he didnt like that for various reasons, i could see his point but i'm still for the register!

kentreaper · 30-08-2012 1:03pm

Your friend should speculate via SPV's - limited companies incorporated to 'flip' individual properties; nothing illegal in this and very tax effective.

:pac:

Monty Burnz · 30-08-2012 4:00pm

Idbatterim wrote: »

of course there are arguments against it, is it really anyone's business what we sell anything for, be it a car, house etc? a house is worth what someone is prepared to pay for it, if people are prepared to pay over the odds, that's their decisions / problem...

It is other people's business - market transparency is paramount. There's much greater social good in facilitating a more informed property market than there is in protecting butt-hurt bubble buyers or knife catchers who are embarrassed by what they paid for their property.

kentreaper · 30-08-2012 4:32pm

I agree Monty - but the real fly in the ointment is the Agent who will say anything to get his/her commission. And this 'advice' will usually be given verbally; so there's no comeback.

Estate Agents need much stricter regulation - particularly now that their income is greatly reduced because of the smaller number of sales.

They have become desparate and will lie through their teeth - telling the vendor that the purchaser won't go any higher and the purchaser that the vendor will not take any lower, or whatever suits. Anything to get a sale!!

Although supposed to be acting for the vendor (who pays their fee - which should be negotiated downwards) to achieve the best price, they just act for themselves.....

kentreaper · 30-08-2012 11:30pm

Really, an Estate Agent acts for both sides - because he won't get paid if the sale doesn't go through, with both sides agreeing on the price.

The system is wrong.

And, in the UK - where I work from time to time - a solicitor CANNOT act for both sides in a property sale.

But - its the norm in Ireland. Stupid!

:eek:

StillWaters · 11-09-2012 10:54am

kentreaper wrote: »

Really, an Estate Agent acts for both sides - because he won't get paid if the sale doesn't go through, with both sides agreeing on the price.

The system is wrong.

And, in the UK - where I work from time to time - a solicitor CANNOT act for both sides in a property sale.

But - its the norm in Ireland. Stupid!

:eek:

I have never hear of a case where a solicitor acts for both sides in a property transaction, it's certainly not the norm. I'm not sure if it's illegal, but there is a very clear conflict.

Independance · 11-09-2012 2:40pm

Now the gov have announced the property tax will start in July 2013, is the database still going ahead in Sept or being pushed back, any news on this?

sparrowcar · 11-09-2012 3:10pm

kentreaper wrote: »

Really, an Estate Agent acts for both sides - because he won't get paid if the sale doesn't go through, with both sides agreeing on the price.

The system is wrong.

And, in the UK - where I work from time to time - a solicitor CANNOT act for both sides in a property sale.

But - its the norm in Ireland. Stupid!

:eek:

Is that right? I have never heard of this before :rolleyes:

davet82 · 11-09-2012 3:20pm

Independance wrote: »

Now the gov have announced the property tax will start in July 2013, is the database still going ahead in Sept or being pushed back, any news on this?

He said the full address of the property would be on the PSRA's website within days of the sale. The register will even have sales figures for September when it is launched at the end of that month.

thats the last i heard, wouldnt hold my breath though!

Iamhere · 12-09-2012 5:54pm

Email reply i got today:

> Date: Wed, 12 Sep 2012 13:58:28 +0100
> From: info@psr.ie
> To:
> Subject: House Price Register
>
>
> Dear,
>
> The expected date for the Property Price Register is by the end of
> September.
>
> Regards
>
>
>
>
> NPSRA Mail
> Mail-In Query
>
> From :
>
> To: <info@psr.ie>
> cc:
> Date : 08/09/2012
> Subject: House Price Register
>
>
>
>
>
>
> Hello
>
> Please can you outline when the above register will go live?
>
> Regards
>

>
>
>
>
>

kentreaper · 12-09-2012 10:01pm

Yes - but in the UK where I live about half the time, the Land Registry is open to the public. Anybody can see who owns what property, how much they paid for it, when, by whom etc. Then you look at the property (if interested!) by Google Earth, MS, Zoopla and about 40 others - where you SEE the property. How long its on the market, and other local comments are important - but in Ireland, lying Estate Agents (commission based/working for both sides, as a result) is not on. Ask Adare agents for good bargains!!!

trishasaffron · 12-09-2012 10:09pm

kentreaper wrote: »

Really, an Estate Agent acts for both sides - because he won't get paid if the sale doesn't go through, with both sides agreeing on the price.

The system is wrong.

And, in the UK - where I work from time to time - a solicitor CANNOT act for both sides in a property sale.

But - its the norm in Ireland. Stupid!

:eek:

Its is not the norm that solicitors act for both sides in property transactions. It might happen very exceptionally where the parties request (e.g. family arrangements) but in such a case one party must take independent advice.

kentreaper · 12-09-2012 11:08pm

In many Irish property transactions (Dublin mainly), the Agent will say (to get things done quickly!) - use the same firm of solicitors; we'll make sure there's a 'chinese wall'

Meaning an INDEPENDENT lawyer works for each party, in the same firm!!!!

This is wrong, unethical and silly.

And lawyers in Ireland have yet to reduce their 'percentage fees'

In the UK, many do their own conveyancing, as I do. Simple with a Land Registry - none existant in Ireland where there will probably be never one.

Why give lawyers/solicitors a monolopy? AND why HIDE property details....of sale prices, times of sales, owners etc.

NO OTHER EU COUNTRY DOES IT

quad_red · 14-09-2012 3:43pm

Emailed the PRSA again, asking them about the price register. No harm in having multiple voices asking the same thing. Asked about what details would be available.

PSRA MailEdit contact 12:40
To: XXXXXXXXXXXXXXXXxx

Dear Mr XXXXXXXX,

The Residential Property Price Register will be available by the end of
this month. It will contain date of sale, the price and the addresses going
back to January 2010. It will be searchable on a number of criteria.

Regards

XXXX

davet82 · 14-09-2012 3:50pm

i've heard one minister (cant remember who on today fm) on this morning referring to it coming out 'at the end of the year'

i hope its on schedule!

quad_red · 14-09-2012 4:01pm

davet82 wrote: »

i've heard one minister (cant remember who on today fm) on this morning referring to it coming out 'at the end of the year'

i hope its on schedule!

What?

kentreaper · 14-09-2012 10:12pm

In the UK, the Land Registry is public; everyone can see details of who bought what property, when - for how much etc. Then, to see the property, you can use Google Earth, Zoopla, MS etc.

Its the same all over Europe.

But, in Ireland - there's nothing. Only lying Estate Agents telling people what they want to hear.

Although, an Agent is instructed/paid by the vendor - he acts for both sides. As, his ONLY aim is to get his fee, from a sale. The system is very wrong......

Number_5 · 16-09-2012 5:27pm

quad_red wrote: »

What?

x2

It's beyond a joke at this stage! :mad: Hard to know what is causing the continued botch process - gross incompetence or conniving delays. Not sure what is worse!!!

Mannix80 · 16-09-2012 5:45pm

kentreaper wrote: »

In the UK, the Land Registry is public; everyone can see details of who bought what property, when - for how much etc. Then, to see the property, you can use Google Earth, Zoopla, MS etc.

Its the same all over Europe.

But, in Ireland - there's nothing. Only lying Estate Agents telling people what they want to hear.

Although, an Agent is instructed/paid by the vendor - he acts for both sides. As, his ONLY aim is to get his fee, from a sale. The system is very wrong......

I thought you had to pay to see a particular properties details in the UK.

kentreaper · 17-09-2012 9:36am

Mannix80 wrote: »

I thought you had to pay to see a particular properties details in the UK.

Zoopla etc. give a lot of information for free. But, for a small Land Registry admin fee (£3?), all properties/details of sales can be viewed.

It make for a much fairer market - and minimises the role of the Estate Agent.

RATM · 17-09-2012 8:23pm

Just 13 days left in September, we ought to be hearing something about the database by middle of next week

I'm expecting the PRSA to launch this with fanfare, tickertape, razzamatazz and bikini models. Its been 30 years in the making so by god it deserves it

Rabidlamb · 18-09-2012 8:45am

RATM wrote: »

Just 13 days left in September, we ought to be hearing something about the database by middle of next week

I'm expecting the PRSA to launch this with fanfare, tickertape, razzamatazz and bikini models. Its been 30 years in the making so by god it deserves it

Pity it doesn't go back 10 years, that would really tell a story.

House Price Register

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