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Property Price Register & Property Websites mis-quoting sale prices


Maction

Well-known member
Joined
Sep 26, 2011
Messages
453
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/Website/npsra/PPR/npsra-ppr.nsf/PPR-By-Date?SearchView&Start=1&SearchMax=0&SearchOrder=4&Query=[dt_execution_date]>=01/09/2012 AND [dt_execution_date]<01/01/2013 AND [address]=*newbridge* AND [dc_county]="Kildare"&County=Kildare&Year=2012&StartMonth=09&EndMonth=&Address=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:

ibis

Well-known member
Joined
Mar 12, 2005
Messages
12,359
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.
 

Maction

Well-known member
Joined
Sep 26, 2011
Messages
453
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"
 

ibis

Well-known member
Joined
Mar 12, 2005
Messages
12,359
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:

bokonon

Well-known member
Joined
May 29, 2007
Messages
417
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
 

ibis

Well-known member
Joined
Mar 12, 2005
Messages
12,359
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:

bokonon

Well-known member
Joined
May 29, 2007
Messages
417
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/viewtopic.php?p=643167#p643167
 

Analyzer

Well-known member
Joined
Feb 14, 2011
Messages
46,201
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.
 
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