The Residential Property Price Register – PRSA by Annette J Dunlea
The Residential Property Price Register is produced by the Property Services Regulatory Authority (PSRA) under the Property Services (Regulation) Act 2011.Ireland’s first ever property price register has been launched. The website allows users to see how much properties in the country sold for since January 1, 2010.The Register includes information on residential properties purchased in Ireland since the 1st January 2010, as declared to the Revenue Commissioners for stamp duty purposes by the person(s) acquiring the property. The details given for each property includes the Date of Sale, Price and Address of the property.It is important to note that the Register is not intended as a “Property Price Index”. It is simply designed to provide, on an ongoing basis, accurate prices of residential properties purchased at a particular date.If the property is a new property, the price shown is exclusive of VAT at 13.5%.
It will restore some confidence in the property market, it has been claimed.The Minister for Justice Alan Shatter said the Register, compiled by the Property Services Regulatory Authority (PRSA) using Stamp Duty figures from the Revenue Commissioners, was an essential step in bring first-time buyers back into the market and improving transparency.Prices for both cash and mortgage sales are included. The information will be updated on a regular basis and the PRSA said it aimed to published price details within a month of the date of sale of the property.However the PRSA stressed that it is not intended as a “Property Price Index” as the details are limited to price, address and date of sale .They do not include such details as property size or number of rooms.The PRSA chairwoman Geraldine Clarke said the register would be “of substantial assistance in helping people make decisions in relation to one of the most important purchases of their lives.”The property register will provide buyers and sellers with a service they have previously lacked; accurate and up-to-date price information on the market value of individual properties.In recent years price transparency in the Irish property market has made it difficult for buyers and sellers to make informed investment decisions. In a depressed property market, where house prices have collapsed and where no accurate information on property sales exists, there is little investor confidence it is great to have realistic timely information.
Looking up the 2012 database for the month of May I found some good value properties.It is interesting to see what our property is worth in this current recession.A property in Primrose Court, Forest Hill, Carrigaline,Co.Cork, sold for€133,480.17.Another one in Barrack Green, Kinsale, Co.Cork for €135,000.00.One can purchase a home in Clarkes Wood,Mount Oval Village for €245,000.00.Mallow remains a good place for first time buyers with property selling in Ross Avenue, Ballyellis, Mallow for €170,000.In Woodgrove, Forest Road, Carrigaline a home will cost you €282,500.00 or in Rockboro Heights, Waterpark, Carrigaline €148,880.00.In Kinsale a property in Abbeyfort was bought at €242,500.00.A home in Maryborough Court, Maryborough in Douglas sold at €155,000.00.A home in Curraghbinny in Carrigaline sold for €272,000.00.A house in the Court, Compass Quay, Kinsale sold for €150,000.00.In Ashdown, Amberley, Grange a bargain property was bought for €104,267.00.A home in The Walk, Herons Wood, Carrigaline sold for €205,000.00.A home in Cork City centre in Hawkes Road, Bishopstown sold for €176,211.00.Someone purchased a home in Glor Na Dtonn, Garrettstown in Kinsale for €220,000.00.
Residential property prices throughout Ireland fell by almost 12 per cent over the year to August, but the pace of decline slowed from July 2012.The average price of a home in Ireland increased by 0.5% in August 2012. In Dublin however, residential property prices fell by 0.5% in August.
In Aug 2012 one could purchase a property in Cobh €95,000, in Scilly Hill, Kinsale for €300,000.00 or in Welwyn Road, Maryborough Woods for €188,000.00.Cobh remains reasonable with a property sold in Chandlers Walk, Rrushbrooke Links for €95,000.00.A home in Glenview, Grange sold for €130,000.00.Youghal remains a great area to get value for money with a property selling at Dun na Mara, Youghal for €125,500.00.Nearer to town a house in West Avenue, Frankfield, sold for €256,000.00.A dwelling in Mount Oval, Rochestown sold for €300,000.A house in Cedarwood Drive, Castle Heights, Carrigaline, Co.Cork sold for €149,780.00.Residential property prices in Dublin are 57% lower than at their highest level in February 2007.The fall in the price of residential properties in the Rest of Ireland is at 46%.IRISH house prices continue to fall faster than anywhere else in the world, the IMF says in a new report.The IMF working paper om intrnational property finds that Irish prices are no longer misaligned, but are still more expensive than countries such as Germany when wages and other factors are taken into account.The property price register will not be used as a valuation tool for the forthcoming property tax.A department spokesman said that the basis on which valuations will be made will be a matter for the Revenue Commissioners.Log on to website http://www.propertypriceregister.ie to search the database online for free.
Causes Annette Dunlea Supports
The National Council of The Blind, Ireland