Oireachtas Joint and Select Committees
Thursday, 2 April 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Ms Marie Hunt:
They are two distinct functions. As I said, the research operates quite independently of the rest of the business. Our job in putting together charts such as chart 5 on land is tracking transactional activity across all agencies, tracking pricing and putting that into an index. Our valuers operate quite separate to that. However, in doing valuations they obviously have to adhere to the market value definition under the professional Red Book that they are working under and, in that, they would have had to have had regard to comparable evidence. They would be looking at the transaction data we were collating, and that was used as comparable evidence in order for them to arrive at market value.
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