Property price register

After years of calling for property price clarity and lagging our UK neighbours by some distance we overcame data protection sensitivities and began publishing residential property sale prices in September 2012. The register was poorly formatted, lacking in depth and detail and littered with mistakes. Nonetheless transactional information in a dysfunctional market was broadly welcomed.

The Residential Property Price Register is produced by the Property Services Regulatory Authority (PSRA) pursuant to section 86 of the Property Services (Regulation) Act 2011. It includes Date of Sale, Price and Address of all residential properties purchased in Ireland since the 1st January 2010, as declared to the Revenue Commissioners for stamp duty purposes

It is important to note that the Register is not intended as a “Property Price Index”.

In a small number of transactions included in the Register the price shown does not represent the full market price of the property concerned for a variety of reasons. All such properties are marked **.

If the property is a new property, the price shown is exclusive of VAT at 13.5%.

The PSRA disclaims the property price data by saying…
“The information in the Register is that which is filed for stamp duty purposes with the Revenue Commissioners by those doing the conveyancing of the property. At present nearly 100% of the data is filed on-line directly by the purchaser’s solicitor. Any errors in the data are errors made by those filing the data. The PSRA does not in any way edit the data. It simply publishes, in a fully transparent manner, that which is filed.”

The Authority acknowledges that there are errors in the data. Where errors are discovered or reported to the Authority they will be taken up with the Revenue Commissioners.

Property tax valuation Residential Valuations ValuationDec 4th, 20120 comments