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House prices before 2010/PPR?

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  • 23-10-2015 11:58am
    #1
    boogaloop
    Registered Users Posts: 191 ✭✭


    Is there any way of finding out how much houses sold for before the price property register? Looking in a specific area of Galway, want to know prices from 2005 - 2010 if at all possible.

    Thanks


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    #2
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,818 Mod ✭✭✭✭L1011


    Not accurately, no.


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    #3
    Slydice
    Registered Users Posts: 10,501 ✭✭✭✭Slydice


    I saw one chart once that went back to the 80s. Can't remember where, it was a few years ago.

    Any charts / prices you find will most likely be based on asking prices not selling prices.

    No harm all the same to have some data


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    #4
    BabySlam
    Closed Accounts Posts: 349 ✭✭BabySlam


    OP you could check the local paper's back issues - these may discuss property in the area.


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    #5
    marathonic
    Registered Users Posts: 1,662 ✭✭✭marathonic


    A lot of people ask this question. I don't see the logic behind it in most cases? Knowing how much a house cost in 2001 is about as useful as knowing the price of a mars bar 15 years ago - it's irrelevant to today's prices.


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    #6
    Pawwed Rig
    Moderators, Category Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators, Social & Fun Moderators Posts: 22,303 CMod ✭✭✭✭Pawwed Rig


    marathonic wrote: »
    A lot of people ask this question. I don't see the logic behind it in most cases? Knowing how much a house cost in 2001 is about as useful as knowing the price of a mars bar 15 years ago - it's irrelevant to today's prices.

    Might be necessary in may cases. For example when calculating capital gains tax on a house that was once your ppr but changed to a rental property or where you received an inheritance or knowing the market value base cost for a house that you received otherwise than by way of an arms length transaction.
    Can think of other reasons too


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    #7
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    Pawwed Rig wrote: »
    Might be necessary in may cases. For example when calculating capital gains tax on a house that was once your ppr but changed to a rental property or where you received an inheritance or knowing the market value base cost for a house that you received otherwise than by way of an arms length transaction.
    Can think of other reasons too

    How would this effect capital gains or inheritance? That is calculated and paid at the time you sell and the time you inherit, not what the property was worth 5+ years ago. Your accountant would help you to calculate what is due to revenue.


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    #8
    seamus
    Registered Users Posts: 68,317 ✭✭✭✭seamus


    CSO data and old daft reports will give you data on average prices, which could help - you could extrapolate the historic price based on the current price and the property index. I've also had some success with Google results throwing up news articles or cached myhome pages from yesteryear.


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    #9
    Pawwed Rig
    Moderators, Category Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators, Social & Fun Moderators Posts: 22,303 CMod ✭✭✭✭Pawwed Rig


    davo10 wrote: »
    How would this effect capital gains or inheritance? That is calculated and paid at the time you sell and the time you inherit, not what the property was worth 5+ years ago. Your accountant would help you to calculate what is due to revenue.

    It should be alright but it does not happen in all cases. Where you inherit a property that is well below the relevant group threshold you do not have to file a CAT rtn in every case so some people may not bother with a valuation. In fact it often happens that they do not even transfer title into their own names.
    Or consider a scenario where you buy a house for €100K and live in it for 5 years. Then you move out and rent it for 10 years. You sell it for €150K.
    You get PPR relief on your 5 years (and the last year) but the other years are taxable for CGT. What is your base cost for your CGT computation?

    Another example. Say you inherited a house in 2012. The market was so volatile in 2012 that any valuation was a wild guess. In hindsight it would be an idea to get a more realistic valuation.

    Another example.
    I buy a house in 2004. In 2008 I build another house at the end of my huge garden for my son to live in. He lives there for a few years and then moves out redeveloping the house into 6 separate apartments which he rents out for 10 years. Gets a bit short of cash and sells one of the apartments............... etc etc etc

    To answer the OP get a valuation report done by a competent agent and you can use that.


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