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A LONG-AWAITED REGISTER of residential property prices in Ireland has been launched this afternoon.
The register, which can be seen at propertypriceregister.ie, provides the price, address and date of sale on residential properties purchased in Ireland since 1 January 2010.
It includes details for both cash sales and sales which involved mortgages. The Property Services Regulatory Authority said that the site will be updated on a regular basis with information published within a month of the date of a sale.
A note on the website says that the register is not intended to be a property price index and it does not give details such as property size. Instead, the note says that the site is designed to “provide, on an ongoing basis, accurate prices of residential properties purchased at a particular date”.
Users can search the register by county, by year, by month and by address to see house prices. Information can also be downloaded directly from the register database.
There have been calls for a database of national property prices for several years in order to provide open information on a notoriously secretive area.
The register was produced by the Property Services Regulatory Authority, which was set up by Justice Minister Alan Shatter earlier this year to regulate estate agents and management agents.
Speaking after the launch of the site today, the Minister highlighted the problems with the lack of transparency in the housing market.
“In recent years, because of the steep downturn in the property market, it has been difficult to get accurate information on property prices,” Alan Shatter said.
This uncertainty has led to a lack of investor confidence and has contributed to stagnation in the property market, particularly among first time buyers. The publication of the Register should help to remove some of this uncertainty, restore some confidence in the property market and provide transparency in residential property sale prices.
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A transparent housing market is a wonderful idea. How cannot having factual information on the biggest purchase of your life not be a good thing.
It prevents Estate agents, auctioneers and other charlatans from continuously driving prices up.
Is there even one negative aspect to this/ (Apart from the crap functionality of the site.)
I don’t know about you but when I make large financial transactions I rarely want them publicised on the Internet.
Maybe it’s just me.
I’m completely torn on this.
While I can understand the reasoning of it, I too don’t feel comfortable having that information available for anybody to see.
Caring what the neighbours might think vs another property bubble and crash and being one of the few countries int the modern world without a transparent housing market.
I’ll take reality and hard facts anyday. It might be the talk of the parish for a few days but i’d be happier knowing that I paid a fair price rather than bidding against oneself like many did during the boom.
One house I looked at on the Reg in March sold for 275. A Similar house in August sold for 185.
90k is a lot of money to be loosing because people are frightened of what the neighbours might think.
This should be achievable without this level of detail.
Publicised and available are different things. People have general idea what is paid. It also doesn’t show your name. Yes it can be pieced together but any house advertised online in the last few years can be looked up anyway.
it’s in everyone’s interest to have this information available. Although, they could make the same information available in graphs, with as much level of detail without the exact address. For example, if I search a specific housing estate it could give you the average sale price per month in that estate, or even a list for that estate without the house number, but with the price paid for the property, and the price per square metre.
Having said that, it doesn’t really bother me that the address is available. Over here when you’re looking at the equivalent of myhome.ie, when you click on a property you can see if there are any bids, and if you click through you get a full list of the current and all historical bids. It looks like this:
bidder 1: €99,000
bidder 2: €105,000
bidder 1: €110,000
bidder 3: €115,000
etc….
very useful.
well i just looked up my house that i bought in 2010 and the price.is.completely wrong. so its not giving the right prices so what’s the point
@timmy, my house is correct on this register, now i know for sure I didnt get ripped off.
Given Timmy’s attention to punctuation, I wouldn’t be surprised if he also has his numbers muddled.
Why do they need the “Captcha” thing. It annoying the hell out of me already!
I gave up already. They never seem to work for me.
you’re obviously bots. :-D
Although why a bot would care about this information is beyond me. It is annoying as hell though. not need for it at all.
It’s easier if you just download the information for the area you are interested in rather than using the search: http://www.propertypriceregister.ie/Website/npsra/pprweb.nsf/PPRDownloads?OpenForm. Your result is a CSV file that you can then put it into something like Excel where you can sort it and filter it whatever way you want.
I gave up. Useless.
The property register will prevent agents putting AMVs that do not reflect the prices that houses in an area are actually bring sold for. I know someone who looked at a house with an asking price of 260k but actually bought the house for 165k. If more people know the real prices they would be more confident about buying and the market would start moving again more quickly.
Completely agree.
People need to grow up here and get the fup on with it. Who cares who knows what you paid for the house. Won’t you know what their sonny Timmy paid in return.
There will be many people who’ll look over the data for the last few years and see that they were shafted and lied to during the sales process.
Why is this a good idea?
Transparency is always a good thing. Stops all the lies, bluffing ans spin that weve been subjected to for years
I think people were waiting in vain.
What a load of utter rubbish.
Unlike other similar search engines in developed countries, It doesn’t indicate whether the property is a derelict ruin or a 10 bedroom luxury home with a swimming pool.
One of the property descriptions had no more than the name of the town that the property was situated in.
Well I suppose what should we expect in this banana republic.
Dont worry the Government,NAMA and Banker cronies will still be getting all the correct, precise relevant data (and bargains) behind closed doors.
Wait for our ”fine” media scholars and spindoctors to get their grubby little hands on this so that they can start proclaiming the ”great bargains” out there 50/60/70% the false ponzi boom time prices.
I see that many of the sales in 2010 and 2011 seem to be contracts signed on new developments in the tail end of the boom,
the builders must have finally scared the purchasers into coming up with the reddies, to buy the cowboy built shoebox squats that they wanted to back out off.
The banks that we own might even throw out a few small token mortgages to the common folk,
so that some of us can pick up the dirty scraps that fall of their tables like Priory Hall and the likes.
The banks hold our deposits.
They say that they are lending.
They are not lending to us.
We own the banks.
Do we not have the right to know who they are lending to?
Or are we to correctly assume that they are only lending to their cronies, a lot of whom stash their savings securely offshore in other countries?
Ermm Harry if you are looking for a house in an area you will see those that are derelict or not…are people gone so far that they can’t use common sense or is it another cheap non thought out silly comment that appears from those that want to be negative about progress????
Are you saying that you can’t get a loan Harry? Maybe you were too negative about things on the application form?
Without going of the subject Mick.
Maybe you should ask the people who were conned into buying Priory Hall (or a few council engineers) about the definition of derelict.
The most obvious fact is that our ”fine government scholars” spent years and no doubt millions of euros of our money on this piece of rubbish.
When half assed property websites in a developed country have far more accurate, transparant search tools for a fraction of the cost.
But oh sorry, I forgot the Irish government don’t do transparency or low cost.
Oh god…why do i bother answering stupid comments….Property websites my friend show asking prices…these are the “sold” prices…this is the whole point of it..read it up…educate yourself lad
Sorry Mick I didn’t realise that you obviously aren’t familiar with property websites in other countries.
Sold price data dating back to the 90′s and other specifics including pictures (in some cases) are available on U.K. property websites Rightmove, Zoopla etc…
Our governments offering is a joke in comparison.
My friend this is a database, not just a website…where you u suppose those websites get their independent information…off a independent database-which is wat this is!
Here Mick
Give it a try.
Click on
http://www.rightmove.co.uk/
Click the house price tab on the top left hand side which will bring you to
http://www.rightmove.co.uk/house-prices.html
Key in your desired location’s postcode or address and you’re away.
It’s strange that Daft.ie or MyHome.ie haven’t added a similar search tool on their websites,
or maybe they are afraid of upsetting their estate agent buddies or other vested interests.
Oh god…keep digging…where is the information from these sites coming from? an independent source!!! we did not have one prior to this so Irish sites could not go down this route…now we have an independent source that daft etc can now use!!! Where is ur argument going?
Mick did you just say that
”Property websites my friend show asking prices…these are the “sold” prices…this is the whole point of it..read it up…educate yourself lad” ????
Oh sorry it must have been my ”negativity” that made me think that???
Be it database or website Mick.
This is a long overdue, expensive, amateur piece of non transparent inaccurate rubbish compared to its equivalents in other countries.
I wonder did our government allow the banks to engineer it just as they did with the farcical insolvency legislation?
Yeah right Mick I’d say the Indo owned myhome.ie were lobbying hard for this database.
”Back to the good old days of when the property supplement was thicker than the paper”
Imagine that thicker than the Indo itself.
Do you know how much the other databases cost my friend? You don’t plus you don’t know how much this one cost…where are you getting your figures??? Spoofing???
And back up your inaccurate and non transparent statement..hard facts, I want them??
As regards you quoting me…yes that’s wat property websites do in this country…I’m correct here. Secondly, if you want to look at the uk websites-yes they do as I acknowledged…but they get there info from a government sourced data…which u are against here but not over there…wat is ur point???
Firstly: Anything that the Irish government normally pays for costs us multiples of what it should cost one way or another,
would you disagree?
Secondly: The hard facts are that our country is run by inept so called leaders,
would you say not?
Thirdly: What do you think I am against, and what makes you think that?
Not one FACT produced for ur statements my friend…I wanted facts/figures to back up ur statements…sadly you could not produce
Quick question after looking at that site I see “I have read and understand the clarifications given in the Information Note with respect to the data contained in the Register
To search the database click OK”
Why?
Not to worry Mick, I’m sure the department of finance, NAMA, the ESRI, our banks etc…. will produce some fine facts and figures to keep you happy (and positive).
Or better still Mike you can go and talk facts and figures to the guys who audited Anglo in 2008,
if Michael Noonan ever finds them.
(Hey, they could be busy advising the government on their new property price register as we speak)
(Nothing surprises me when it comes to the Irish Government)
http://www.thejournal.ie/anglo-irish-bank-auditors-2008-614089-Sep2012/
Still no facts and figures…u are a spoofer!
Here’s some for you Mick.
http://www.thejournal.ie/aib-bondholder-payment-617526-Oct2012/
That is the facts and figures I requested from you to back up your claim that the house price system is inaccurate and non transparent is it??? I give up…
Ahh Mick.
Don’t be a quitter.
As I have clearly stated above.
I have used the database/property website or whatever you would like to call it today,
and on several occasions it has given no more than the name of the town where the property is situated as details to identify the property.
What use is that?
As for the cost of this half assed property database/property website to the Irish taxpayer, well it is just extortionate like everything else we are charged for by our inept government.
As for the delivery of this ”fine” achievement of technology, well its just 10-15 years behind schedule, like everything else our inept government deliver to us.
Don’t bother with the search function. Just download the raw data and open it in excel.
It’s excellent news. You can’t have a transparent market if the buyer is completely in the dark re real prices.
It will be used as a gage against what price you put down as the value of your home when you sign up for the property/bondholder tax.
Snore…it’s coming no matter how much u don’t want to pay tralaalaala
I just can’t comprehend the negative comments on here. Some people are just anti everything and some are just paranoid. Time to grow up people.
A small Window of transparency, let this just be the start of a new era of openness in Irish society
Was thinking the same myself ??
The housing and property market is at the root of the destruction of the Irish economy. This is the first significant step in debunking all the myths and mystery that drove the market during the 2000′s. A registry like this could well have put the brakes on the totally insane speculations and price jumps that have left the country on its knees.
This is great news. Transparency at last.
Good God but there are some great deals out there from the prices indicated on that site..
This is good news. These types of registers are widely available in the UK. it benefits both seller and purchaser. This will be good for the property market and estate agents will have to be more realistic.
Jason hit the nail on the head. More control for Edna and her cohorts. This website will accomplish nothing because the prices on it were all from a time when prices were too high anyway. Therefore it’s contributing to keeping them high. Bring back simple lending rules, 2.5 times ur salary and no more, then u will see normality returned to the housing market.
What are you on about? If you even bothered to read until the third paragraph you would know that it lists houses purchased since January 1st 2010. The high period ended well before that time.
And what if its used for the property tax? Better for you to be charged for a €200k purchase rather than the €300k “average” an “expert” may place on houses in your area.
They don’t read lad…they just want something to attack on a slow news day no matter how silly the comments make them look…
I cant see what you paid for the house being used for a property tax. Some people could have paid 200,000 and another person paid 150,000 for the same type property. An opportunity was lost by not listing the sq footage. Going forward this is what will be used to gauge a property tax. Today will be spent snooping on the neighbours and being pissed off that you paid more than your neighbour. It may even see more people seeking writedowns from their bank.
Phil, the prices on the site are for properties sold since January 2010 up to August/September 2012. I think this information is going to be very useful when it comes to purchasing a property in a specific area. Up to now we have only had access to guide prices or average prices for the country as a whole. Now we have access to the final price that the property sold for, the “real” price. This is good news for the buyer and I hope that this information will save me money when my wife and I buy our home.
Why Captcha? Its just a search. Searching by date range rather then 1 year at a time would be nice, whoever did the UX on this needs to find a new day job.
The UI sucks big time. Better off to go to the Download instead of the Search section and get all the data for the area you are interested in. Then run it through Excel or some other data analysis tool.
agreed, it seems particularly pointless having Captcha when you can simply download the entire database (well per year anyway)…..
It’s the norm over here. When you are looking at a particular house to buy, your realtor will show you similar properties that have sold nearby and what they sold for. Very transparent and you know if the sellers are asking too much and what you should ask for when you are selling your property.
City hall has a list of every property in town and what their value is.
Prices did rise a lot in a ten year period but there was no crash.
Well said lad…we are learning at long last…some people might not like it but is for the greater good… Good to see things changing.
Captcha strikes again! Very annoying!
Nice to see that Cork City Council who bought a private house in Cork County for €300k 5 years ago sold it onto its tenant for €55k excl Vat!
Good work whoever was in charge of that…sack them…oh no..wait..we can’t…they are prob off sick anyway…oh well
And prob get their increment this year…
the purchaser was probably a niece or a nephew of someone on the corpo anyway…
I see what people are saying and I’m not missing the point. I suppose I could have been clearer in my comment. I paid 167k for my house and have never made a secret of it. But I still feel that was far too much. Displaying that info may stop someone paying more than that but they’ll still pay too much. Do u see what I mean.
Indeed, could have the potential effect of turning the market before it’s actually bottomed out. If people are seeing houses selling in their area for around €160,000 then they’re not likely to want to accept less for their own property are they?
My little NAMA in Cork sold 3 weeks ago and it’s on this site already!
I’m very lucky, mortgage paid down and no debt.
I’ll bet some of my former neighbors who are also trying to sell won’t be very happy to see where the prices are at now.
I feel very sorry for them.
Negative equity calculator so is it
What a disgraceful website.
No standard data format, no geo data, no cleansing AND a captcha – and they have the gall to say you are “free to re-use our data.”
Half arsed doesn’t describe it.
step in the right direction has to be a good thing.
How many people are employed in this new quango? I thought this government were to get rid of quangos. I must have missed the u- turn.
I have been renting in Robswall, Malahide for a number of years. Made enquiries about purchasing and was given price indications. At least this site gives actual sale prices as against asking prices.
have your say