Following the National Consumer Agency's decision to involve itself in the disagreement between the Irish Times and certain estate agents, Geroge Hook yesterday had a discussion on his radio show with Pat Stephenson, director of Norths Property and Alan Ahern, economist from NUI Galway.
Ahern was quick to blame the industry for trying to 'talk-up' the property market. He added that the shortfall of the Irish property market is that the consumer must turn to the untrustworthy industry for any statistical information
Pat Stephenson advised that many agents, such as Norths, strictly abide by the privacy understood within private treaty sales and don't disclose any figures whatsoever. He also said that the level of inaccurate information was not an industry problem, but rather a problem of regulation, which he hoped the forthcoming auctioneers bill might go some way towards solving.
This morning, Ann Fitzgerald of the National Consumer Agency (NCA) was on Morning Ireland's business news. She argued that the reporting of inaccurate information on the prices paid for houses was illegal and created a "false market", against the interests of the consumer. She suggested that future breaches would see the NCA initiate legal proceedings under consumer protection legislation against the individual agency misreporting. She said it was critical that there be "a clear and transparent market".
Is there a necessary change underway in the Irish property market?
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