Minister for Justice Dermot Ahern announced earlier this week the long awaited initiation of a property sale price database that will be used to monitor market trends, house prices and ultimately create much-needed transparency in the property market. “I am very aware of the need for reliable and up-to-date data on house prices and other property,” he said.
Although the news has been welcomed by many organisations and agents who say the planned database would be of benefit to individual buyers and sellers as well as to agents and would provide an accurate picture of the market, the news has been met with mixed feelings by… the punters.
On one side of the fence many believe that the database is a step in the right direction towards a more stable property market in the long term but on the other side the fence there are many who do not favour the introduction for various different reasons including the issue of privacy and the idea that the information will be used to calculate a new property tax… “I as a private individual, the price I bought my house for is none of anyone’s business”…”No, its just another way to calculate values for property a tax”.
Property Sale Price Database:
- Will it provide much need transparency and lead to a more stable property market?
- Or is the database unnecessary and an infringement on your privacy?