Joe O'Toole (Independent)

I am happy to continue the discussion on this issue. I welcome the Minister of State to the House and I ask him to consider the following reasons for bringing this issue forward.

Last year more than 50,000 new houses were sold in this country. At an average price of €200,000 each that represents €10 billion spent on new houses alone. If one includes the second-hand market one can, at least, double that figure. We are talking about approximately €25 billion worth of transactions which are not regulated in a way other transactions of that type would be.

When we tabled this motion there was a general view that our purpose was to put the boot into auctioneers. Actioneering groups have, in fact, been supportive of this motion. Senators Coghlan, Ross and I met with Mr. Aodán Ó hÓgáin of the IAVI and, while he did not agree with everything we were saying, he was very supportive of the approach we were taking. I have also had responses from groups such as REMAX, which have encouraged us to do this. The intention is not to have a go at auctioneers but to further professionalise the work they do and to give it an authority to which auctioneers are entitled and which the general public requires with regard to transactions of this size. Buying or selling a house is a transaction which places huge emotional pressures on people.

The Government amendment is a positive one. I would like a reassurance from the Government that the proposed review will not take place in the dark recesses of the Department of Jusice, Equality and Law Reform where we might never find out what is going on. Such a review should be undertaken by a broader group than people within the Department and it should involve the main auctioneering groups as well as consumers and independent people. I ask the Minister of State to make this clear.

Our motion asks for a code of ethics and professional standards applicable to all auctioneers. Some groups already have such a code and I would like to give them the force of regulation and law so that they will have the trust and confidence of the public.