The latest findings of the MyHome.ie Property Barometer show that nationally, asking prices have fallen 22% since the peak of the market yet plenty of sketchy evidence exists showing that actual sales ... prices have fallen far in excess of this amount, upwards of 40% and more in some cases.
During the boom, asking prices acted as a starting point for negotiations, with sales being done at prices in excess of the asking price. More recently, asking prices have become something more of an aspiration for sellers, with many sales being concluded below asking price in this buyers" market.
So taking all this into account, is it time for a publicly accessible database detailing accurate information on all residential sales transactions in the State, similar to the system operated by the Land Registry in England & Wales? Or should such information remain private, as it currently is under the Data Protection Acts?
Have Your Say:
- Would the availability of such price information provide for more transparency in the property market?
- Or would it simply hinder the efforts of sellers in trying to achieve the maximum price possible for their property, which they are entitled to do?
- Should the general public have a right to know how much a person paid for, or received for, a house they bought or sold in what is essentially a private sales transaction?
