Watchdog overseeing estate agents moves to new department amid calls for beefed up oversight
The bodies that oversee property service providers, including auctioneers, letting agents, and property management agents were transferred from the Department of Justice to the Housing Department on 1 August.
The Property Services Regulatory Authority (PSRA) has a number of key functions including, the administration of a system of investigation and adjudication of complaints against Property Services Providers.
Social Democrats housing spokesperson Rory Hearne has welcomed the move, stating that there are major issues in the housing market which are pushing up prices including well known practices such as gazumped, phantom bids and facilitated bidding wars.
'These practices are allowing prices be inflated to the maximum possible squeezing home buyers in an already overheated market,' he said.
In a parliamentary question, he asked the Housing Minister James Browne if he is aware of
reports in
The Journal
regarding the lack of transparency
and culture of bidding wars that has emerged in the Irish housing market and if he is concerned by these trends.
Advertisement
The minister responded by stating that under the programme for government it was agreed that the PRSA, which is the watchdog over the operations of property providers and those in the industry, should move into his department.
The Housing Department said in a statement that this transfer brings the PSRA into the broader housing infrastructure and will 'enable the achievement of the shared goal of a healthy, fair and functioning housing market for Ireland'.
'The transfer will help maintain national housing stock at the highest quality in line with the standards already set by the department,' the statement said, stating that 'bringing together the regulation of this important sector, with housing standards functions under one department will boost consumer protection and public awareness of property services'.
Updating regulation law
The Property Services (Regulation) Act 2011 created the PSRA and the PSAB [Property Services Appeals Board] to oversee property service providers, including auctioneers, letting agents, and property management agents and to handle complaints.
The department said it is now a priority to resume work already underway to amend several provisions within the 2011 Act to bring them up to date.
'The focus is on ensuring everyone has a range of housing options, whether they want to buy a house, rent one, or need social housing. An adequate supply and mix of housing across housing types and tenures is critical to addressing the current imbalance between supply and demand in the housing market, including home ownership, social housing and private rental,' said the housing minister.
Increased supply will help moderate price increases, address affordability in the market, and help those aspiring to own their own home to realise this goal, he added.
Bidding wars and phantom bids
Hearne said it is important that the PRSA has come under the responsibility of the Department of Housing, but criticised the government for making the 'wrong decision' not to investigate practices such as phantom bids and facilitated bidding wars.
Related Reads
Teachers and nurses who have links to an area to be prioritised for cost rental units
Group of estate agents believe housing prices will soon level off, says SCSI survey
Mortgages have hit levels not seen since right before the crash
'I am urging the Minister for Housing to undertake an investigation into practices in the property market that is inflating housing prices.
'There are clearly huge problems in the Irish house purchase market that is adding to rising house prices. The Government doesn't want to know about it and has ditched plans to look at what could change,' he said.
Hearne said France and Scotland have sealed bids that remove bidding wars, stating that this should also be introduced in Ireland.
Speaking about management companies and estate agents, who Hearne said have an important function in the rental market, he said there are concerns that they are acting in ways that exploit tenants.
'We would like an investigation of the role of these actors in the rental market in terms of tenant protections and inflating rents,' he concluded.
Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article.
Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.
Learn More
Support The Journal
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sunday World
27 minutes ago
- Sunday World
Indian community celebrates independence day in Dublin
The free event at Merrion Square came despite a separate celebration being called off following concern over recent attacks on the Indian community Hundreds of people have participated in an event marking India Day in Dublin, as gardai and the Government sought to assure the community it was taking action against racially motivated crime. The free event at Merrion Square came despite a separate celebration being called off following concern over recent attacks on the Indian community. Minister for Justice Jim O'Callaghan has expressed concern over 'totally unacceptable' attacks on the Indian community, adding that the majority appear to have been carried out by young people. Mr O'Callaghan said he engaged extensively with the Garda commissioner on the matter, and senior investigating officers had been assigned to investigate all reported incidents. Event organizer Sanjeeb Barik with a statue of the Indian deity Jagannath as people attend the India Day Festival at Merrion Square Park, Dublin (Niall Carson/PA) Sunday's celebration, organised for India's 79th independence day, featured music, dance, food stalls, exhibition stands and a range of cultural activities. Sanjeeb Barik, the secretary of organising group the Federation of Indian Communities in Ireland, said the event had gone well amid 'fantastic and beautiful weather'. 'Lots of people are here, there's food and dancing and lots of fun.' Asked about the engagement with Government and gardai, Mr Barik said the event had received 'good support'. Speaking to the PA news agency, he said: 'Naturally, because there has been so many incidents there was some concern. 'We have been actively discussing with ministers, junior ministers and the Minister of Justice and they have all assured us that appropriate safety measures would be in place – and they are. 'We're working very closely to make sure everyone would be safe and, importantly, that it would be enjoyable for everyone.' Mr Barik said they wanted to go ahead with the celebrations to send a message about the importance of standing together. 'It has been a challenging time but the main thing is to come together as a community and celebrate our heritage 'There are people from all backgrounds here – Indian, Irish and others – from all over the the island. 'It is about the strength of bonding and sowing the richness of India and Ireland's multicultural spirit.' From left, Areet Kaur Chandi, seven, Japleen Kaur, 10, and Preety Singh, eight, join the festivities for India Day in Dublin (Niall Carson/PA) He added: 'We are saying come together, stand together. Celebrate unity and diversity – and I hope that will continue.' Inspector Ciaran Nunan from the Garda diversity unit said hate crimes are attacks on the whole community. 'The mission statement of An Garda Siochana is keeping people safe, and this refers to individuals, families, communities and society as a whole. 'It also now includes hate crime. Hate crime is not just an attack on a person, it's an attack on the community. 'An Garda Siochana is very aware of the impact that hate crime has upon individuals and communities, and we take it very, very seriously. 'Since our last India Day celebration last year, we now have hate crime legislation in force and we're applying that legislation at every opportunity – but we need people to report incidents of hate crime to us so that we can then take them on board and react to those.' Entertainment was part of the festivities in Merrion Square Park (Niall Carson/PA) He added: 'So I would encourage everybody or anybody that perceives to be a victim of a hate crime to please report it to An Garda Siochana, and allow us to continue what we're doing and work with our communities to keep people safe. 'The Dublin event was attended by Akhilesh Mishra, ambassador of India to Ireland, and Minister of State Emer Higgins. The Ireland India Council, a separate group, said there had been an organised social media campaign against the Indian community in the country and the number of violent attacks has intensified since January. Last week, it said it took the 'difficult' decision to postpone its planned event at Farmleigh House over concerns for the safety of the community. People celebrating at the India Day Festival at Merrion Square Park, Dublin. Photo: Niall Carson/PA Today's News in 90 Seconds - 17 August
Irish Examiner
an hour ago
- Irish Examiner
Irish ambassador's rent sees €46,000 hike after latest London lease extension
The Department of Foreign Affairs was hit with a hike of more than €46,000 on the annual rent they pay for the Irish ambassador's residence in London. The department said it had little choice but to agree to the sharp increase even though it brought the cost of the property close to €10,000 per week. The new lease of €508,925 per annum — a rise of 10% — was signed off on because no better options were available, according to records released under the Freedom of Information Act. An internal submission said that the Irish ambassador to Britain had been living in the property in leafy Chester Square since September 2019. In late 2022, the department said it was interested in extending the lease. While the landlord was happy for the department to stay on, they said they wanted a 'substantial increase' in rent of over 11%. Department officials tried, 'actively but unsuccessfully,' to negotiate a much smaller increase in rent. The submission said: 'After several months, the landlord indicated that they would not accept any offer below £8,400 (€9,787) per week.' Suitable alternatives At the same time, the department had asked a property adviser to see if there were any other suitable properties in London. A report said the type of residence needed for the ambassador was only likely to come on the market half a dozen times each year. The property advisers examined eight properties in the area that had been let over a two-year period. They said only three of them had been leased for less than £7,000 (€8,156) per week, adding that the majority ranged from £8,000 to £12,000. A spokesman for the Department of Foreign Affairs said: 'Having given the matter careful consideration, and on the balance of market evidence available at the time, it was clear that a move would have no added benefit and would incur an additional cost to the Irish exchequer. 'The department decided to renew the lease for a three-year period to September 2026, with the option to break at relatively short notice should a more suitable alternative become available.'
Irish Independent
an hour ago
- Irish Independent
Indian community celebrates independence day in Dublin
The free event at Merrion Square came despite a separate celebration being called off following concern over recent attacks on the Indian community. Minister for Justice Jim O'Callaghan has expressed concern over 'totally unacceptable' attacks on the Indian community, adding that the majority appear to have been carried out by young people. Mr O'Callaghan said he engaged extensively with the Garda commissioner on the matter, and senior investigating officers had been assigned to investigate all reported incidents. Sunday's celebration, organised for India's 79th independence day, featured music, dance, food stalls, exhibition stands and a range of cultural activities. Sanjeeb Barik, the secretary of organising group the Federation of Indian Communities in Ireland, said the event had gone well amid 'fantastic and beautiful weather'. 'Lots of people are here, there's food and dancing and lots of fun.' Asked about the engagement with Government and gardai, Mr Barik said the event had received 'good support'. It has been a challenging time but the main thing is to come together as a community and celebrate our heritage Sanjeeb Barik He said: 'Naturally, because there has been so many incidents there was some concern. 'We have been actively discussing with ministers, junior ministers and the Minister of Justice and they have all assured us that appropriate safety measures would be in place – and they are. 'We're working very closely to make sure everyone would be safe and, importantly, that it would be enjoyable for everyone.' ADVERTISEMENT Mr Barik said they wanted to go ahead with the celebrations to send a message about the importance of standing together. 'It has been a challenging time but the main thing is to come together as a community and celebrate our heritage 'There are people from all backgrounds here – Indian, Irish and others – from all over the the island. 'It is about the strength of bonding and sowing the richness of India and Ireland's multicultural spirit.' He added: 'We are saying come together, stand together. Celebrate unity and diversity – and I hope that will continue.' Inspector Ciaran Nunan from the Garda diversity unit said hate crimes are attacks on the whole community. 'The mission statement of An Garda Siochana is keeping people safe, and this refers to individuals, families, communities and society as a whole. 'It also now includes hate crime. Hate crime is not just an attack on a person, it's an attack on the community. 'An Garda Siochana is very aware of the impact that hate crime has upon individuals and communities, and we take it very, very seriously. 'Since our last India Day celebration last year, we now have hate crime legislation in force and we're applying that legislation at every opportunity – but we need people to report incidents of hate crime to us so that we can then take them on board and react to those.' He added: 'So I would encourage everybody or anybody that perceives to be a victim of a hate crime to please report it to An Garda Siochana, and allow us to continue what we're doing and work with our communities to keep people safe.'The Dublin event was attended by Akhilesh Mishra, ambassador of India to Ireland, and Minister of State Emer Higgins. The Ireland India Council, a separate group, said there had been an organised social media campaign against the Indian community in the country and the number of violent attacks has intensified since January. Last week, it said it took the 'difficult' decision to postpone its planned event at Farmleigh House over concerns for the safety of the community.
