A new property website was put online yesterday by MyHome.ie, the online property portal joint venture which includes estate agents across the State.

Headed up by Mr Jim Miley, a former chief executive of Dublin Chamber of Commerce, MyHome.ie has a nationwide network of close to 140 estate agents offices, including its partner agents, Sherry FitzGerald, Douglas Newman Good and Gunne Residential. AIB holds a 23 per cent stake in the portal following a £1.8 million (€2.29 million) investment last December.

The company said the new site is the largest up-to-date property listing available in Ireland and is updated on a daily basis.

The site provides full colour brochures of houses online and also allows users to plot the precise location of properties through its mapping function, according to the company. Further developments to the site to enhance its functions are planned in coming months.

MyHome.ie has an extensive agent recruitment campaign under way which has already secured in excess of 55 per cent of the Dublin property market and strong presence in the 26 counties, the company said.

"We have a network of leading estate agents in every county in Ireland who see our site as a key business marketing and development tool for their future growth," said Mr Miley.

The majority of estate agents who have already been contracted to advertise on the new website have taken up a share offer in the company, it said.

The site was developed by Internet development company, eWare, and its mapping functions were supplied by Paradigm and IRIS. Powerstation designed the site.