January PTSB/ESRI Index: Down 1.4%


#2

That depends on whether you’d consider this “information”…


#3

Huh :confused: Didn’t we find out it was based on best guesses by chaps in shiny suits?


#4

So, “officially” down 17% from peak?


#5

No way. Property only ever goes up! :nin


#6

TSB/ESRI Average price = €260K
US Average price = €200K
UK Average price = €170K

The latter two based on real numbers.

Methinks the TSB are off by at least 100K if the truth be told.


#7

The pace has slowed, hallelujah…

Wire: BLOOMBERG News (BN) Date: 2009-03-26 14:00:01 
Ireland February House Prices: Summary (Table)


By Mark Evans
     March 26 (Bloomberg) -- Following is a summary of February Ireland
house prices from permanent tsb and ESRI in Dublin:
*T
============================================================================
                        Feb.    Jan.    Dec.    Nov.    Oct.   Sept.    Aug.
                        2009    2009    2008    2008    2008    2008    2008
============================================================================
                    -------------------------- YoY -------------------------
National               -9.7%   -9.8%   -9.1%   -9.6%  -10.2%  -10.6%   -9.9%
Outside Dublin         -9.5%   -9.9%  -10.2%  -10.5%  -11.1%  -11.0%   -9.5%
Dublin                -13.3%  -12.4%  -11.7%  -11.1%  -10.4%   -8.4%   -8.8%
New Houses             -9.2%   -9.0%   -8.2%   -7.7%   -8.3%   -9.1%   -8.7%
Existing Houses       -11.3%  -10.8%   -9.7%   -8.6%   -8.6%   -9.8%  -10.5%
First Time Buyers     -15.2%  -13.5%  -14.0%  -12.0%  -10.4%   -9.4%   -9.8%
Second Time Buyers     -9.2%   -8.9%   -7.8%   -8.9%  -10.2%  -11.0%  -10.1%
Commuter Counties     -17.8%  -16.7%  -16.8%  -13.5%  -11.9%  -10.2%   -9.0%
3 Bed Semi               n/a     n/a  -10.6%   -9.4%   -6.6%   -6.6%   -5.0%
                    -------------------------- MoM -------------------------
National               -0.8%   -1.4%   -0.9%   -0.5%   -0.8%   -1.1%   -0.9%
Outside Dublin         -0.9%   -0.6%   -0.7%   -0.1%   -1.4%   -1.6%   -1.3%
Dublin                 -2.1%   -1.4%   -2.1%   -0.8%   -2.6%   -0.8%   -0.8%
New Houses             -0.6%   -1.3%   -0.7%   -0.1%   -0.5%   -0.4%   -0.4%
Existing Houses        -1.0%   -1.3%   -1.4%   -1.2%   -1.0%   -1.5%   -1.0%
First Time Buyers      -2.8%   -0.8%   -2.6%   -1.9%   -2.1%   -1.2%   -1.2%
Second Time Buyers     -0.7%   -1.9%   -0.4%   -0.1%   -0.4%   -1.3%   -0.8%
Commuter Counties      -2.3%   -0.6%   -4.5%   -2.4%   -1.9%   -1.3%   -0.8%
3 Bed Semi               n/a     n/a   -2.7%   -2.6%   -0.2%   -1.2%   -0.2%
                    --------------------- Price in EUR ---------------------
National             255,999 258,006 261,573 264,026 265,364 267,594 270,493
Outside Dublin       220,741 222,649 223,984 225,511 225,701 228,945 232,570
Dublin               339,042 346,274 351,096 358,631 361,644 371,288 374,302
New Houses           261,483 263,000 266,466 268,416 268,633 269,932 271,016
Existing Houses      251,111 253,584 256,956 260,553 263,700 266,398 270,445
First Time Buyers    216,034 222,371 224,153 230,094 234,648 239,598 242,568
Second Time Buyers   288,743 290,759 296,302 297,562 297,814 299,074 303,105
Commuter Counties    259,425 265,550 267,265 280,003 286,862 292,497 296,416
3 Bed Semi               n/a     n/a 267,731 275,093 282,456 282,902 286,249
============================================================================
NOTE: For the index, base year = 2003.
The commuter counties are Louth, Meath, Kildare and Wicklow.
3 Bed Semi shows the prices for 3 bedroom, semi-detached houses.

Source: permanent tsb, ESRI

#8

Phew, its a soft landing.


#9

BUY NOW!


#10

Or as they say in some parts of the county where “th” hasn’t yet penetrated: “dis information” 8)


#11

Can’t even get a mild bounce in February? That’s some bad shit… :blush:

Where is MyHat?


#12

A quick glance shows Dublin by far the worst drop and then radially less outwards from there, the slightly lesser drops farther out


#13

Back to March '05 for Dublin…

EDIT: Nominal o’course…


#14

Four years off.

Only another four or five to go so.


#15

TUG ,i would go back 2002-2003 for some parts of Dublin


#16

Here I am!

We brought out our February figures a few days into March. They can be viewed in full in a table here: myhat.ie/blog/?p=297

They showed a 1% drop for Dublin in the month of February in ASKING PRICES. Which left us 4% down for 2009, and 15% down year on year. (Proving CaveCanem’s point that our weekly figures cannot be annualised, but at the same time showing, for those who would question, that our results do tally with other, more established reference points and yet we can get them out in a few days.)

Our March figures will be out and on the blog a few days into April. (And please don’t shoot me if they do show a bounce!)


#17

Good man. Don’t worry, none of us pay any attention to the PTSB / ESRI… :wink:


#18

And for good reason:

But somehow:

:unamused: :unamused: :unamused:


#19

I first queried a similar apparent lunacy in the PTSB figures a couple of years back. Apparently it’s all because of the different baskets of samples of various property and location types, and the different weights accorded to each.

Which is, of course, pure bolloxology, the usual snow job trying to bluster away awkrard questions with a torrent of waffle.

ESRI/PTSB figures are pure makey-uppy pulled-from-arse nonsense and always have been.


#20

Dublin prices down 9.8% in the last 6 months.
Commuter prices down 13% in the last 6 months.

Annualised drops of a fifth and a quarter.

This spindex may actually be starting to reflect some reality at last.
I can’t believe I just said that.


#21

rorshach would be most disappointed… :stuck_out_tongue: