For most people, the process of buying a house can be quite disheartening. The lack of housing supply across the country means houses often sell for way above asking price and usually after an excruciating bidding war.
While the Government promises to address the supply issue, is there anything that needs to change about the way we buy houses?
In the UK, a major reform of the house-buying system has been proposed by the Labour Government. The plan aims to cut costs, reduce delays and make the whole process more efficient for buyers and sellers.
Under the new plan, sellers would have to provide key information about the house upfront. Binding contracts could also be introduced earlier. It would cut the costs for first time buyers and speed up the process by up to four weeks - so should Ireland follow suit?
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In today’s episode, Ciarán Mulqueen, who runs the social media account Crazy House Prices, takes a look at how the process works in other countries and whether something similar could be introduced here.
Presented by Bernice Harrison. Produced by Suzanne Brennan
