23% gap between closing price and asking price

The Irish Property Bubble The Republic of Property
#1

Comparing the prices in the PTSB/ESRI report to the prices that Property Vultures have scanned off DAFT

PV: Average National asking price 29Feb 08 - €368355
PTSB/ESRI: Average National closing price Feb 08 - €283650

Average closing price is 77% of asking price

property-vultures.com/
esri.ie/irish_economy/perman … tables.pdf

I’m making the presumtion that PV price is the National asking price for all properties on DAFT. I’m not certain this is the case.

I didn’t think the gap was so wide

#2

The PV average price of €368,355 is based on only 600 properties

The ESRI/TSB average price of €283,650 is based on pure fantasy!

#3

Oh right fair enough. Still gives an idea of the gap between asking and closing prices though

#4

That wasn’t meant as a critism. It is a useful comparison but you would need to look at the trend over time.

#5

Yeah, this is an average of all properties on Daft. Personally, I prefer to use the median value which is 320,000 for houses, as it indicates that half the houses are below 320,000. This is still about 10% above the ESRI value. There is a graph on Daftwatch which which also indicates this. I cant speak for Daftwatch, but my interpretation is that the median value for all properties is ~310,000.

daftwatch.atspace.com/daftprices.html

https://property-vultures.com/daftwatchgraph.jpg

#6

Sidney

Instructive, nay Intruiging, but cluttered.

Can you be more selective…say 4 series not 12 ( based on counting colours) AND can you start at 200k base which was the median c 2003

starting at 0 is soooooooo black 1847

call it “Sidneys Market Metric” seeing as you went to the trouble :slight_smile:

#7

Hey Sidney, where did you get that graph? Looks interesting.

#8

No its not mine its actually on daftwatch daft prices breakdown.

daftwatch.atspace.com/daftprices.html

I worked out that the median price has droped from about 330,000 to 310,000 since January 07 , about 6%.

#9

Graph is from Daft watch and the info only goes back so far :frowning: already looked into doin up loads of pretty graphs to shove down the throats of the vested intertests but the data is unavailable
oh I had so many ideas LOL