Pat Rabbitte (Dublin South West, Labour)

Let the record show that I meant Helen of Troy. I was always beguiled by Liz Taylor.

Will the Taoiseach respond to recent newspaper statements to the effect that estate agents and auctioneers propose to increase their fees by 33% as a result of the apparent slowdown of price acceleration in the housing market? Specifically on behalf of the auctioneers, a gentleman called Mr. Fintan McNamara told the Irish Independent:

During the course of the boom it was very very easy to sell properties. Agents very often were just facilitators in the sale process. Now, however, as the market cools, agents are going to have to use their marketing skills and there will be a lot more work involved.

Will the Taoiseach permit a situation where, for example, the cost of the buying and selling process of an average house will rise from €5,250 to €7,000, on top of all the other charges young people have to pay? I do not recall auctioneers reducing their commissions when prices were going up. It seems the same amount of selling is involved whether the property is €1 million or is an averaged price house. Houses went up by 12% and commercial property values rose in double digits. I do not need to tell the Taoiseach how fraught and harrowing the business of buying a home is. How is it that his Government, however, will defend and protect the interests of developers and anybody with money but not those of young people who are trying to buy a home? Why is the Taoiseach not calling in the Competition Authority to deal with this issue? Why is he not bringing forward the Bill that has been promised for five years, to regulate estate agents and auctioneers who can do and charge what they like? We have seen the malpractices some of them are engaged in highlighted in recent times.

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