Housing minister admits 'archaic' aspects of homebuying need 'increased transparency'

Report by the Economic and Social Research Institute said the most commonly used bidding systems encourage people to overbid, leading to inflated prices.

The housing minister has admitted aspects of the homebuying process are "archaic" and added there needed to be increased transparency in that process.

James Browne was reacting to a new study which found overbidding, a widespread misunderstanding of rights, and increasing delays are all characteristics of homebuying in Ireland.