The Government recently announced plans to publish an official
property database to achieve greater transparency on house prices
throughout the Republic of Ireland.
The Property Services Regulatory Authority now has the power to obtain
the necessary information on house prices and the initial results and
statistics on house prices should be released by the Department of the
Environment in early 2011.
The database should allow potential property buyers to compare house
prices across each sector of the Irish housing market.
Presently information on house prices is acquired through surveys of
estate agents and auctioneers. A survey by the Irish Independent
newspaper showed that relative to the asking price at the peak of the
housing boom of €435,000, the average price of a new detached 4 bedroom
home has dropped by €180,800 to €255,000 in mid august 2010.