CSO Residential Property Price Index - megathread


#2279

Fill ye’re boots XX


#2280

There is no way the CSO is counting correctly when there are 20 or 30 living in a house (4 or 5 to a room) in Dublin city center. The last job ad we put out for a software developer had 3 Irish out of about 30 applicants. A huge proportion were from South America and living in Dublin CC.


#2281

It doesn’t matter how many people live in it; it’s still only one house and sells for one price.


#2282

Correct, but I suspect greentree is talking about the Census.


#2283

Wrong thread.


#2284

50% sounds high-ish, but definitely not outlandish. Ireland has a skills shortage and a lot of tech sector workers are from elsewhere.

On the salary thing, did tech sector job ads in Ireland ever regularly state salaries? I haven’t been actively looking for a while, but I get frequent emails from recruiters; the UK ones usually give salary guidelines, but the Irish ones normally just say “competitive” or similar, and as far as I remember it’s been like that for years.


#2285

CSO Residential Property Price Index – December 2016 & Overall figures:

cso.ie/en/releasesandpublica … pidec2016/

Notes:

  1. Per the official PPR there were 47,083 Property Purchases in 2016 as at 10/02/17.
    Per BPFI there were 27,416 Mortgage Drawdowns in 2016. See here for details viewtopic.php?f=4&t=26451&p=814001
    Therefore 41.8% of all Sales were Cash purchases to date in 2016.
    This compares to 47.7% cash sales in 2015, 50.7% in 2014 and 52.3% in 2013.

  2. As of September 2016 the Index has been updated to now cover all market purchases of houses and apartments by households, both cash and mortgage-based transactions. All previous figures have been revised using this new method to January 2005.

  3. This index is a lagging indicator of the Irish mortgage market. These houses were probably Sale Agreed 3-6 months ago, depending on how long it took for the sale to go through. So it may no longer be reflective of current market conditions.


#2286

From the latest numbers published yesterday: Dublin residential “only” up 5.3% in the year to January, less than half the increase for the rest of the country. But Dublin apartments are up 9.1% (which explains some of the craziness in rentals), and Dublin overall is now up by two thirds since the trough this time four years ago (65.2%).


#2287

CSO Residential Property Price Index – January 2017 & Overall figures:

cso.ie/en/releasesandpublica … pijan2017/


Notes:

  1. Per the official PPR there were 47,346 Property Purchases in 2016 as at 10/03/17.
    Per BPFI there were 27,416 Mortgage Drawdowns in 2016. See here for details viewtopic.php?f=4&t=26451&p=814001
    Therefore 42.1% of all Sales were Cash purchases to date in 2016.
    This compares to 47.7% cash sales in 2015, 50.7% in 2014 and 52.3% in 2013.

  2. As of September 2016 the Index has been updated to now cover all market purchases of houses and apartments by households, both cash and mortgage-based transactions. All previous figures have been revised using this new method to January 2005.

  3. This index is a lagging indicator of the Irish mortgage market. These houses were probably Sale Agreed 3-6 months ago, depending on how long it took for the sale to go through. So it may no longer be reflective of current market conditions.


#2288

CSO Residential Property Price Index – March 2017 & Overall figures:

cso.ie/en/releasesandpublica … pimar2017/

Notes:

  1. Per the official PPR there were 47,507 Property Purchases in 2016 as at 12/05/17.
    Per BPFI there were 27,416 Mortgage Drawdowns in 2016. See here for details viewtopic.php?f=4&t=26451&p=814001
    Therefore 42.3% of all Sales were Cash purchases to date in 2016.
    This compares to 47.7% cash sales in 2015, 50.7% in 2014 and 52.3% in 2013.

  2. As of September 2016 the Index has been updated to now cover all market purchases of houses and apartments by households, both cash and mortgage-based transactions. All previous figures have been revised using this new method to January 2005.

  3. This index is a lagging indicator of the Irish mortgage market. These houses were probably Sale Agreed 3-6 months ago, depending on how long it took for the sale to go through. So it may no longer be reflective of current market conditions.


#2289

I had a look at airbnb recently in Dublin and there are some silly prices on offer there.

An increasing amount of housing is coming on stream too. Some apartments are clamping down but there is not much that can be done for houses.

I think this is pushing up rents as the normal supply gets restricted. I think it is pushing up selling prices too as cash-only investors are piling in.

It’s obviously a lot of work but sweating an airbnb gets a gross yield of maybe 8% in Dublin right now.


#2290

CSO Residential Property Price Index – April 2017 & Overall figures:

cso.ie/en/releasesandpublica … piapr2017/

Notes:

  1. Per the official PPR there were 47,551 Property Purchases in 2016 as at 13/06/17.
    Per BPFI there were 27,416 Mortgage Drawdowns in 2016. See here for details viewtopic.php?f=4&t=26451&p=814001
    Therefore 42.3% of all Sales were Cash purchases to date in 2016.
    This compares to 47.7% cash sales in 2015, 50.7% in 2014 and 52.3% in 2013.

  2. As of September 2016 the Index has been updated to now cover all market purchases of houses and apartments by households, both cash and mortgage-based transactions. All previous figures have been revised using this new method to January 2005.

  3. This index is a lagging indicator of the Irish mortgage market. These houses were probably Sale Agreed 3-6 months ago, depending on how long it took for the sale to go through. So it may no longer be reflective of current market conditions.


#2291

Must be the first month in a while houses haven’t gone up. Has the inflation of the bubble ceased?


#2292

If only. The month on month changes are pretty noisy and have hit zero or below ten other times since the 2012 trough, last time in December:


CSO Residential Prices: Dublin Houses, index and MoM %change


#2293

They also experience a high level of seasonality.


#2294

House prices jump by almost 12% in the year to May

irishtimes.com/news/consume … -1.3150623

Well done Coveney (Help to Buy) and Noonan (lobbying central bank ease lending rules), both first degree cretins


#2295

Problem is this is exactly the intention - it’s not law of unintended consequences. They set out to increase prices and succeeded

I agree it’s idiotic however but like everything in Ireland we learn fuck all. As another poster said previously, it’s a pity people queue outside developments to buy rather than queue outside the Dail with pitch forks


#2296

CSO Residential Property Price Index – May 2017 & Overall figures:

cso.ie/en/releasesandpublica … exmay2017/

Notes:

  1. Per the official PPR there were 47,587 Property Purchases in 2016 as at 11/07/17.
    Per BPFI there were 27,416 Mortgage Drawdowns in 2016. See here for details viewtopic.php?f=4&t=26451&p=814001
    Therefore 42.4% of all Sales were Cash purchases to date in 2016.
    This compares to 47.7% cash sales in 2015, 50.7% in 2014 and 52.3% in 2013.

  2. As of September 2016 the Index has been updated to now cover all market purchases of houses and apartments by households, both cash and mortgage-based transactions. All previous figures have been revised using this new method to January 2005.

  3. This index is a lagging indicator of the Irish mortgage market. These houses were probably Sale Agreed 3-6 months ago, depending on how long it took for the sale to go through. So it may no longer be reflective of current market conditions.


#2297

CSO have revised the figures back to Jan 2010 as more info now available

cso.ie/en/releasesandpublica … ijune2017/

I’ll put up my usual analysis later but the key point I’ve found in Dublin houses have now overtaken the base of Jan 2005. Prices are at levels last seen in Feb-March 2009 (when they were falling) and previously Feb 2005 (when they were rising

cso.ie/en/releasesandpublica … ijune2017/


#2298

That’s when they were falling precipitously!