The real selling price of all houses sold over the past two years will be revealed this summer as part of the government’s plan to revive the property market.
The new house price database will be launched at the end of June. It is set to contain the full details of all properties sold since January 2010, including the addresses, date of sales and the final selling price.
It is the first time that accurate information on the selling price of houses will be made public.
The government are hopeful it will also help kickstart the housing market with people no longer having to rely on the word of estate agents or rumour for rough selling prices.
The House Price Register will feature all sales, with no property or property owner exempt from the database.
It will be run by the Navan-based Property Services Regulatory Authority (PRSA) who will get the information of the final selling price of houses from the Revenue Commissioners, who receive the sale details from solicitors within 30 days of the transaction to calculate whether or not stamp duty is owed.
The PRSA's aim is to publish details of house price sales prior to January 2010 in the future - but this will take longer because some of the stamp duty information hastily processed during the property boom did not contain accurate addresses.
The Department of Justice has already confirmed that the register will be free of charge for the public to use.
