When it comes to naming things, the Property Services Regulatory Authority Register isn’t likely to win any awards. Is it even the right type of register?
Off the top of my head, a few others spring to mind.
Surely a more appropriate type would be the Greedy Bastards Who Bankrupted The Country Register.
Joking aside, it looks like house prices are beginning to stabilise, at least in the more sought after areas in Dublin. It’s not like the Dublin-based media notice what’s going on around the rest of the country.
Is this a sign that we have reached the bottom and are now turning the corner?
It has been a long and financially painful time for a lot of the population since the property bubble burst back in 2008.
There are indications from auctioneers that some properties in sought after areas such as south Dublin are in demand and prices are starting to pick up.
The problem is that it is hard to know who to believe when you hear these reports.
Is it true, or are some people trying to talk up the market. There is no doubt that when prices do start to rise, the more fashionable areas will be in demand and they will show the first increase.
The government agreed to set up a property database register with records of all sales which will give a true indication of the prices paid for houses.
The legislation by the Government for the setting up of a Property Services Regulatory Authority has been put in place, but it has not yet produced its first register of sales. This is expected later in the year.
Then we will know for sure what prices are being paid. Up to now figures were based on mortgage lending, which do not take account of cash sales.
Expect more memorably titled government solutions in the future.
Bet you can’t wait.
