national house price register

Dannyboy83

Why do we still not have one?
Are any of the political parties planning on implementing one?
Is it difficult to do?

Surely if we are going to have an LVT system, we will have a NHPR too ?

Ghost Estate

Why do we want one? so we can pay the government every year to be allowed stay in our own houses that we already own?

Hopefully government inefficiency will delay it substantially until some other crowd get elected who have the common sense to get rid of this utterly stupid idea of property tax

It would give very accurate details on current house prices which would be very handy.

It hasn't been rolled out due to privacy laws I think.

The change to stamp duty might make it easier to infer at a top level what prices houses are selling at.

koheim

Ghost Estate wrote: »

Why do we want one? so we can pay the government every year to be allowed stay in our own houses that we already own?

Hopefully government inefficiency will delay it substantially until some other crowd get elected who have the common sense to get rid of this utterly stupid idea of property tax

Think you got this one wrong? the idea of a National House Price Register is to get a transparent housing, so that I can find out what houses and apartments are trading for, both in today's marked and ideally for the last 15 years.

This is what all other European Countries have so why not Ireland.

If Property Tax is brought in, all this would be to your advantage, trust me..

Ghost Estate

koheim wrote: »

If Property Tax is brought in, all this would be to your advantage, trust me..

what makes you think i'd stick around if they bring that nonsense in?

i don't need the government to try and run some website (and waste millions in the process) to tell me that the shoebox the local estate agent is trying to sell costs about 3 times as much as it should

tenchi-fan

I'm sorry, but let's face it - a national house price register would not help anyone.

Imagine during the boom if we had a website which showed people what houses sold for! People would just take it as validation that that's what houses were worth.

And now that banks aren't lending it doesn't matter what the asking or selling price is.

At worst, it would highlight any distressed selling of properties (where a seller lost his home for not being able to keep up with the mortgage) rather than a value where the seller is willing to sell and a buyer could buy if banks weren't being overly stringent with credit.

I'll go one further and guess that distressed sales, where multiple properties are acquired in one transaction or where a bank sold to a developer at a knockdown price, would probably be exempt from the house price register thanks to a possible deal done by influential individuals with whatever scoundrels form part of the next government. Meaning that the official register could not be trusted anyway.

later12

The absence of a house price register in line with other jurisdictions is pretty abysmal to be honest. It could actually have a positive effect in that investors and banks would be better able to tell when and where the market was bottoming out.

I understand that there is a register of sorts available to accredited estate agents, although I don't know how they collect or collate the data, or if it is merely a valuation reference as opposed to a more valuable overall statistical assessment. Any estate agent on here might be able to clear that up.

EricPraline

tenchi-fan wrote: »

Imagine during the boom if we had a website which showed people what houses sold for! People would just take it as validation that that's what houses were worth.

Really? For one it might have prevented the Irish Times publishing inflated and downright inaccurate property prices (see here for a nice summary). It also might have prevented the estate agent-led fear factor that seemed to motivate so many buyers at the peak... "Honestly we just sold the house down the road for €X and prices only rise, so you better offer €X + 10% here or you'll miss the boat".

In theory it's an excellent idea which should hopefully remove some of the shoddy practices engaged in by estate agents. However I'm not under the illusion that the government was being altruistic in trying to help out the public here. The only reason it was on the table (and the reason for the "gift" of stamp duty reform) is to pave the way for a property tax. But since they've decided to leave that for the next government to implement, they didn't bother following through with the register that was promised by Dermot Ahern last August.

Red Actor

Dannyboy83 wrote: »

Why do we still not have one?
Are any of the political parties planning on implementing one?
Is it difficult to do?

Surely if we are going to have an LVT system, we will have a NHPR too ?

According to this http://www.oireachtas.ie/viewdoc.asp?DocID=17265&&CatID=60 and the proposed amendments here http://www.oireachtas.ie/documents/amendments/b2809s-dsc4.pdf might answer answer the timing - its effect on the market is not obvious but more (accurate) information is never a burden. Interesting that commercail leases are also going to be covered.