Residents in Dublin's coveted D4 addresses have only two years left until their exclusive postcode is renamed by the Department of Communications, as plans for the new postcode system are finalised byMinister Eamon Ryan.
The department plans to issue tenders for the system by Easter, but a delay has meant the code will not be in place until the end of 2011, and not early next year as planned.
Under the new coding system, areas such as Dublin 4 and Dublin 6 will be renamed under a new six-digit system, such as D04123 and D06123.
However Labour's spokeswoman for Communications, Energy and Natural Resources, Liz McManus, said the latest estimates for the new system show it will cost a minimum of €40m.
McManus has also said businesses will suffer further financial hardships as they will be forced to change their address records and data.
"This is not the time to be implementing this system, and it appears to be nothing more than a vanity project for the minister."
It is no wonder there is a delay - the official report on PostCodes, as a result of Government Consultants investigations, highlights that one of the benefits of postcodes will be more efficient delivery of bulk mail/mass mail or otherwise known as junk mail. There is no mention of benefits to home owners whatsoever.
All that home owners will see is their properties being rezoned into new areas with associated changes in value - downwards in some cases.
Some D4 house owners will be relegated to D04 999 - with much less value than those who get D04 001
Also to make the current plan work - addresses in rural areas will have to change - road names and property numbers will have to be added to the traditional address - County Councils will have to come up with new road names...
And of course €37 million will have to be paid to An Post to get their support for the proposal.