Tuesday, 14 December 2010
Department of Justice, Equality and Law Reform
House Prices Database
Question 193: To ask the Minister for Justice and Law Reform how the proposals regarding the new database on house prices are expected to work; how the information will be compiled and the source of the information; and if he will make a statement on the matter. [47313/10]
I can inform the Deputy that it is my intention to bring forward amendments to the Property Services (Regulation) Bill to give the new Property Services Regulatory Authority the statutory function in relation to publishing details of residential sales prices.
The amendments will provide that details which, under existing stamp duty legislation, must be supplied to the Revenue Commissioners for stamp duty purposes within 30 days following the sale or lease of property will be made available to the Property Services Regulatory Authority for publication at regular intervals. Publication of this house price data will ensure the required level of market transparency and meet the needs of statutory and other bodies involved in tracking market trends and compiling statistical data on the property market.