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Thread: Property Price Register & Property Websites mis-quoting sale prices

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    Politics.ie Member Maction's Avatar
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    Default Property Price Register & Property Websites mis-quoting sale prices

    I've commented on this elsewhere, but thought that it deserved a seperate thread.

    Basically, I've noticed a an 'anomoly' between the prices that properties are sold for - pending on where one gets their information.

    See sample below:

    See here:
    http://www.daft.ie/searchsale.daft?id=655057

    Go to the bottom of the page - the property being advertised is not the property in question

    However, now look @ the actual property price register website

    http://www.propertypriceregister.ie/...ress=newbridge

    The property in question is 11 Barretstown Meadows, Newbridge, Co Kildare.

    According to daft.ie - this property was sold 09/2012 for €245,000
    However, according to the property price register, this property was sold for €215,859
    Difference of €29,141!

    I take it that the Property Price Register website is correct??
    Last edited by Maction; 23rd October 2012 at 01:17 PM.
    All great truths start as blasphemies

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    Quote Originally Posted by Maction View Post
    I've commented on this under another thread, but thought that it deserved a seperate thread.

    Basically, I've noticed a an 'anomoly' between the prices that properties are sold for - pending on where one gets their information.

    See sample below:

    See here:
    7 Kilbelin Park, Newbridge, Co. Kildare - House For Sale

    Go to the bottom of the page - the property being advertised is not the property in question

    However, now look @ the actual property price register website

    Residential Property Price Register

    The property in question is 11 Barretstown Meadows, Newbridge, Co Kildare.

    According to daft.ie - this property was sold 09/2012 for €245,000
    However, according to the property price register, this property was sold for €215,859
    Difference of €29,141!

    I take it that the Property Price Register website is correct??
    That looks like daft.ie may be quoting the asking price as the sale price, which, prior to the publication of the property register, would have been all that would have been publicised.
    Never let the best be the enemy of the good.

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    Politics.ie Member Maction's Avatar
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    Quote Originally Posted by ibis View Post
    That looks like daft.ie may be quoting the asking price as the sale price, which, prior to the publication of the property register, would have been all that would have been publicised.
    That could be the case. However the website does state "Residential Property Price Register - Sold in this area"
    All great truths start as blasphemies

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    Quote Originally Posted by Maction View Post
    That could be the case. However the website does state "Residential Property Price Register - Sold in this area"
    Yes, indeed it does - and then quotes what look like asking prices, but with the correct sale date from the property register. I see myhome.ie gets it right. Could be worth calling them on it - either directly or through the NCA.

    [EDIT]See bokonon's post below[/EDIT]
    Last edited by ibis; 23rd October 2012 at 02:30 PM.
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    Inconsistent treatment of VAT? (€245,000/113.5)*100 = €215,859

    VAT on residential property. The following rules apply: If you are buying a new house from a builder/developer, you will be charged VAT at 13.5

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    Quote Originally Posted by bokonon View Post
    Inconsistent treatment of VAT? (€245,000/113.5)*100 = €215,859
    Good point!

    Hmmm....but no - if it is, it's inconsistently inconsistent, if you see what I mean. The rest of the prices listed on daft for "sold in this area" are correct as per the register.

    Unless the property in question was sold through daft.ie, and they know the information as given to the property register to be incorrect, possibly by way of the VAT?
    Last edited by ibis; 23rd October 2012 at 02:36 PM.
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    There is an interesting one in cobh where i live house was never advertised for sale but has sold according to the website for 10,000. other house in same area are all asking over 100,000. Makes you wounder what type of deals are going on.

    Property Price Register - 21 Ballynoe Mews, Cobh - 08/15/2012

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    Quote Originally Posted by ibis View Post
    Good point!

    Hmmm....but no - if it is, it's inconsistently inconsistent, if you see what I mean. The rest of the prices listed on daft for "sold in this area" are correct as per the register.

    Unless the property in question was sold through daft.ie, and they know the information as given to the property register to be incorrect, possibly by way of the VAT?
    VAT only applies to new builds, not on second hand properties. Having said that, the PPR data sometimes includes VAT on new properties and sometimes not, depending on the mood of the solicitor that typed it on the electronic stamp duty submission.

    See: Is property register pulling down prices? Irish Times 11/10 • thepropertypin.com

    The address data is all over the place too. The people on the pin are attempting a crowdsourced clean-up, which is over half-way through. Instructions here: http://www.thepropertypin.com/viewto...643167#p643167

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    Eh...the auctionerring "profession" (sic) are not exactly the foremost honest section of society. Regardless of whether a society is in a boom or a recession, they fib all the way.
    Coveney's ambition is the be Ireland's next EU Commissar and Ireland will pay a price as he builds his CV to position himself sufficiently loyal to the nEU empire.

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