Shane Ross (Independent)

It is important that the activities of those in a profession such as auctioneering which is not regulated should be monitored by the Oireachtas. As Senator O'Toole stated, No. 6 of the non-governmental motions on the Order Paper calls for an investigation by the Oireachtas into the auctioneering profession. When the property market is – as is the case at present – in a state of unreasonable euphoria, it should be realised that auctioneers are fuelling this furnace and that this will cause a great deal of difficulty for people in years to come. The problem is that to qualify as an auctioneer, all one needs is €10,000 and the ability to bang a gavel; one does not need any professional qualification. It is an industry that is basically unregulated, does what it likes and misleads the public about prices. As a result, it has, along with the banks and others, put house prices at a level that is probably unsustainable and that makes them unaffordable for young people.