CSO Residential Property Price Index - megathread

ppr

#2384

CSO Residential Property Price Index – June 2021 & Overall figures:

https://www.cso.ie/en/releasesandpublications/ep/p-rppi/residentialpropertypriceindexjune2021/

Notes:

  1. Per the official PPR there were 49,230 Property Purchases in 2020 as at 12/8/21.

Per BPFI there were 32,504 Mortgage Drawdowns in 2020. See here for details http://www.thepropertypin.com/viewtopic.php?f=4&t=26451&p=814001

Therefore 34.0% of all Sales were Cash purchases to date in 2020. This % usually increases slowly over time as the PPR is updated with stamp duty records.

This compares to 34.1% cash sales in 2019, 36.3% cash sales in 2018, 40.9% in 2017, 45.0% in 2016, 47.9% in 2015, 50.9% in 2014 and 52.6% in 2013.

  1. 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.

In August 2017, the index was further revised back to Jan 2010. Those figures are used above.

http://www.cso.ie/en/releasesandpublications/in/rrppi/revisionstorppijune2017/

  1. 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.

#2385

#2386

#2387

Sell next year and miss the boat :joy:


#2388

Economist with Davy Stockbrokers Conall Mac Coille said higher incomes for those working in multinational technology and pharmaceutical companies was a factor behind soaring property prices.

“Price inflation has not been solely driven by weak supply.

“The 20pc growth of income taxes in 2021 demonstrates employment in the higher paid cohorts of the labour market has been very strong, in part driven by the multinational sectors.”


#2389

How long until the peak is retaken? :tada::tada:


#2390

Looking at latest CSO Residential Property Price Index

https://data.cso.ie/table/HPM09

National - houses figure is 2nd highest ever and about to overtake the bubble record from Apr 2007


#2391

And with interest rates heading north, what could go wrong!


#2392

https://data.cso.ie/table/HPM09

National House prices March 2022 now the highest ever on record

Statistic Month Type of Residential Property UNIT VALUE
Residential Property Price Index 2022M03 National - houses Base 2015=100 160.3
Residential Property Price Index 2007M04 National - houses Base 2015=100 160
Residential Property Price Index 2007M07 National - houses Base 2015=100 159.4
Residential Property Price Index 2022M02 National - houses Base 2015=100 159.3
Residential Property Price Index 2007M05 National - houses Base 2015=100 159.2
Residential Property Price Index 2007M09 National - houses Base 2015=100 159.2
Residential Property Price Index 2007M08 National - houses Base 2015=100 159
Residential Property Price Index 2007M03 National - houses Base 2015=100 158.9
Residential Property Price Index 2007M06 National - houses Base 2015=100 158.8
Residential Property Price Index 2007M11 National - houses Base 2015=100 158.8

#2393

Some fairly sweeping generalisations and gaps in the analysis here, but interesting nonetheless. Hard to know when the tipping point and move back down the hill will be, but fact they’re now statistically highest ever surely within the next 12 months.


#2394

A momentous day

Mission accomplished!