Ms Josephine Feehily:

The model does not get into the number of bedrooms, whether one has built a 14 bedroom extension or anything dramatic like that. We took the view that most normal extensions will be within the band. Valuers maintain that the impact on the market value of a house is not greatly enhanced by sticking on an extra bathroom. A €50,000 band gives a great deal of room in that sense.

There is another message that is important for people to hear. The valuation date is 1 May. Any enhancements or additions after that date are not relevant or captured. It is important that people do not think this should stop them from enhancing their houses in June and July of next year and the year after. The valuation date of 1 May lasts for three and a half years.