April house price drop was a record

rte.ie/business/2009/0527/houses.html

Looks like the lads above in the PTSB/ESRI have agreed that they had better start reflecting the actual situation in the housing market, before their makey uppey index is utterly discredited.

Ah, tis a moving average… :smiling_imp:

No volume information anywhere by any chance?

I reckon about 12 houses and 4 apartments in the entire country !

Remember the last one had too few semis to comment on ,

Ah now, wit da pick and mix adjustment tis fierce hard to find the volume so it is. BD I think the index still understates the extent of drops by about 15%.

I wonder are we following a similar overall pattern to the UK 90s property crash, in the first 2 years nominal price drops were relatively mild ('89 was the peak), then in the 3rd year, as inflation fell and the recession started biting the really big falls started to occur.

housepricecrash.co.uk/graphs … -crash.php

I reckon we are at late 2002 prices now, 2004 my hole :frowning:

I really hope they sell a few semis this time around, remember that they sold so few since christmas that they COULD not or WOULD not give a value because the sample size was too small .

Methodoly and Codology and Links discussed 1st 10 posts here

viewtopic.php?f=4&t=21136&start=7

One of the main differenes to bare in mind is people in the UK have access to information which may help drive the market and make informed decisions on purchase or sale we have fuck all because we are governed by scumbags and VIs. That about sums that up I think

well of course that is the sweet dream that most Pinsters hug to themselves late at night (myself included). I fantasize about house-prices returning to sane sustainable levels in a short time-frame so that I could buy a house that I could live in until I was carried out of in a box without owing the banks crippling levels of debt that would impede my ability to enjoy my life.

Unfortunately the Irish government is certain that if they work long enough and hard enough they can borrow enough money from my children to prevent a swift correction from occuring so that the pain and suffering is spread out over 20 years or more instead of 3-5. And unfortunately it looks as though they are correct.
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Still too few semis …

3 Bedroom semis are nearly a quarter of the entire housing stock , north of 400,000 units in Ireland .

The low sample size has been a problem for months , since december I think , how can you have a national index without semis in it FFS ??? :frowning:

Average Irish house price April 2009 €248,640

Average Scottish house price April 2009 €142,588

lloydsbankinggroup.com/media/pdfs/research/UKOverviewQ12009.pdf

Are we actually clear that they exclude apartments and duplexes as this is a “house” price index?

It seems even odder to call it a “house” price index when it doesn’t include three bed semis and does in fact include all types of properties that simply aren’t houses.

My rough math’s calculates that €100 a day is being lost off the value of the average house. How d’like those banana’s.

Not sure about the bananas but I sure don’t like your egregious use of apostrophes.

Says it all really.

But as the missus would say “that’s all very well, but it would mean living in Scotland” :smiling_imp:

Because we’re worth it.

You’re looking at that photo of bertie & celia again arent you. :angry:

If it was a record what record was it?
The Only Way is Up - Yazz
Things can only get better - Howard Jones
Downtown - Petula Clarke
Down Down Down - The Presets

Housequake - Prince & The New Power Generation