House Price Distribution (Dublin)

While working on an analysis of Dublin house prices advertise on Daft I was surprised with the following

31% of houses are for sale with an asking price of less than €150k
47.5% of houses have an asking price of €200k or less
60% of houses are for sale with an asking price of less than €250k
and finally 80% of houses have an asking price of less than €450k

Only 8.75% of houses have an asking price greater than €750k

Overlaying the above with a percentile household income distribution produces some interesting results as regards affordability.

I have used the information provided in Table ISD1 in relation to married couples who both work

revenue.ie/en/about/publicat … index.html

Average Household Income : €71k (430k Households)
Average Income for the top 60% of Households: €97k (260k Households)
Average Income for the top 37% of Households: €126k (141k Households)
Average Income for the top 16.5% of Households: €166k (71k Households)

Why not include single income families?

These are household income figures so they do include single income families

Daft.ie is much bigger for most of the Dublin market but myhome.ie dominates the +1 million market in Dublin. Could that affect your results?

Agreed.

IMO Daft has a larger market share of the sub €300k market whereas Myhome’s market share is greater in the €300+ market.

The figures for My Home are as follows

Sales price less than €450k: 78.12%
Sales price less than €300k: 60.45%
Sales price less than €250k: 47.90%
Sales price less than €150k: 14.83%

9.81% have a sales price greater than €800k

Nor do they include families where both adults are unemployed or students.

430k households does represent a reasonable sample size and is probably very representative of the earning capacity of the house buying competition in Dublin.

IMO there are probably more single income households in rural Ireland reflecting the lower availability of jobs.

I am assuming these incomes are pre tax.

Your results will be very distorted, there are so few house coming to market, most or probate sales, older people cashing in and downsizing both needing work or forced sales, there are very few trader uppers, movers…. .

Does anyone know if the original founding member estate agents of myhome.ie are still (how shall I put this …) ‘reluctant’ to advertise on DAFT ?

There are approximately 4,760 properties (3,540 houses) for sale in Dublin with approximately 50-60 houses going sale agreed each day (mon-fri).

In addition there are 2,569 sale agreed properties on Myhome.

Currently there are 35-45 new properties coming into the market each day.

The above is based upon an eight week analysis of the Myhome data. (I stress there is some guess work in terms of calculating inflows and outflows).

I spent six months house hunting and going to see a lot of house, well over 80, others I know that were house hunting also saw the same.

Land lord are you selling or buying or just talking up the market hoping to get yourself out of trouble?

What’s the methodology for this number? IIRC there is huge ad-recycling going on in Daft where agents would keep the same ad ID but change the details to that of a different house. So if you’re basing it on ad IDs you might be way off.

OTOH, if you’re basing it on addresses there are sometimes multiple ads for the same property, esp across daft and myhome, so it might be lower.

Tracking address

Currently a buyer :slight_smile: with 2 transactions pending.

Landlord, you’re tracking the 120+ changes every day? (35-45 new and 80 gone). I do think doing it manually would be the only way to be accurate, but I’m impressed you have the time.

Not as time consuming as you think. I only need 90%+ accuracy but it does provide some insight into activity levels.

I was hoping that somebody else would automate the process as you can never believe a VI like me.