The Construction Industry Federation has called for the establishment of a register of house prices following the cancellation of the monthly ESRI/Permanent TSB House Price Index.
The Federation has indicated its intention to work with the Minister for Housing and Local Services and other relevant parties to progress this matter.
The federation's director general, Tom Parlon said it has asked Minister Michael Finneran to bring together the relevant parties to deal with this as a matter of urgency.
He said the decision to cancel the monthly house price index was 'inevitable' given the collapse in the survey sample.
'However, even at its height, the index could only tell us what happened in the past. Given the centrality of the housing market in any domestic economy, a guide to house price movements as they happen, is an absolute requirement,' Mr Parlon said.
He added that such information is readily available in the Northern Ireland, UK and US economies.
