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What is the Property Price Register?

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If you’re in the process of buying or selling a house in Ireland, you might have come across the term “Property Price Register.” You might have been advised to take a look to understand what houses in the area are selling for. But what exactly is this register, and how can it assist you in your property journey? In this article, we’ll explore the details, answering your questions and highlighting how it can be a useful tool for your research.

What is the property price register?

The Property Price Register is your ultimate guide to understanding house values in Ireland. It’s essentially a comprehensive list of every residential property sold in the country since 2010, showcasing the sale prices. By searching through it using parameters like address, county, and date, you can unveil the specifics of particular property transactions.

What is the property price register

How is the property price register managed?

The Property Price Register is  managed by the Property Services Regulatory Authority (PSRA). This ensures the accuracy and reliability of the information housed within the register, making it a trustworthy resource for both buyers and sellers.

Why use the property price register?

Wondering how this register can benefit you? Here are some key uses:

  1. Buyer Research: Understand what properties in your chosen area are selling for, or track the sale history of a specific property.
  2. Market Research: Companies and media organisations conduct market research using the register to gauge trends in house prices.
  3. Valuation Research: If you’re working with an estate agent or valuer, the Property Price Register is a go-to tool for property valuation.
  4. Curiosity Quencher: Ever been curious about what your neighbour, let’s say Mary, sold her property for? The register can satisfy your curiosity.

Are prices accurate in the property price register?

In most cases, the Register is a reliable record of sale prices. However, it’s essential to be aware of a couple of nuances:

  • It doesn’t include VAT paid for new builds.

The price shown doesn’t account for the value of “contents” included in a deal

Who records a sale in the property price regsiter?

Your solicitor, in collaboration with Revenue, records property sales on the register. This happens during the conveyancing process when your solicitor records the sale, pays the stamp duty on your behalf, and passes the information to the PSRA for updates.

Regular updates and historical data

Curious about how often the register is updated?, the PSRA updates it every Wednesday, using records received from Revenue on the preceding Tuesday. The register itself goes back to January 1st, 2010, covering all residential sales since that date.

Limitations of the property price register

It’s crucial to recognise that the Register keeps it simple. It doesn’t include specific information about the property, such as size or the number of bedrooms. Instead, it focuses on the sale price and address.

Is it better to look on the property price register rather than Daft or My Home?

If you’re wondering whether the Property Price Register trumps other platforms like Daft or MyHome, it depends on your information needs. The register records the actual sale price, while the others primarily work off asking prices, which can differ significantly.

Can a sale be erased from the register?

The short answer is no. The Property Price Register was introduced after the Irish housing crash to bring transparency to the market. As of now, there is no mechanism to have a residential property sale removed from the register.

In conclusion, whether you’re navigating the property market as a buyer, seller, or simply a curious neighbour, the Register is your invaluable companion. Use it wisely, and let it guide you through the journey of buying or selling a property in Ireland. Remember no two properties are the same so if you are planning on selling make sure you get an accurate valuation for your property. Book your Free Property Appraisal here

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If you’re considering selling your property in Co Cork, Ireland, let DNG Galvin be your trusted partner. Our local expertise, personalised guidance, and commitment to your unique needs will ensure that your selling experience is a smooth and rewarding one.

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