Noel Grealish (Galway West, Progressive Democrats)
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Question 552: To ask the Minister for the Environment, Heritage and Local Government if the date he appointed a company (details supplied) to develop and improve a new house price statistics system will be extended; the position regarding the implantation of the system; and if he will make a statement on the matter. [3181/06]

Noel Ahern (Dublin North West, Fianna Fail)
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The system concerned has been developed and is being maintained under a renewable contract with one of the companies named. My Department does not have direct contract with the other company in respect of this project. The software system is operational and is being used to collect data from some financial institutions. We are already receiving details in respect of approximately 25,000 mortgages, between applications and loans drawn down, each month.

My Department is analysing the data that is being supplied. It is not envisaged publishing a new house price index until further data from all financial institutions are available to support new price indices. However, this system has also been developed to provide analysis and trends on buyer profiles. The results from the data collected through this house price statistical system will be published in the Department's annual housing bulletin, which is due for release in the middle of 2006.