Fianna Fáil Spokesperson on Public Expenditure and Financial Sector Reform Michael McGrath TD has called on the Government to immediately establish a National Property Database as proposed by the previous Government.
Deputy McGrath’s comments follow the publication of the National Asset Management Agency’s annual report and details of the Agency’s plans to kick start the property market.
Deputy McGrath said: “The previous Government had made significant progress on setting up a National Property Database to bring greater transparency to the market by making sure that the price of all homes sold throughout the state are made publicly available. Fianna Fáil believes that full disclosure of house prices will help prospective buyers to make informed decisions.
“Unfortunately, the last Dáil was dissolved before the plan could be completed and the Fine Gael/Labour Government appears to have done nothing to get the database up and running, despite their promises in the Programme for Government. It is clear that this Government is missing an obvious opportunity to take a positive step in bringing much-needed openness to the property market.
“I am also concerned that the vacuum created by the general election and the lengthy delay in setting up Oireachtas committees has meant that NAMA has effectively not been the subject of any active scrutiny by the Oireachtas in over six months. The Agency last appeared before the Public Accounts Committee in January. At the first meeting of the new Finance committee, I requested that NAMA would be brought before us. This hasn’t happened yet, but needs to be arranged for early September so that Oireachtas members can hold NAMA to account for how it is running its operations.”