The most important thing to heatmap, in Ireland’s property market at the moment, is changes in:
Stock of properties for sale
Stock of properties for rent
Flow of properties onto the sales market
Flow of properties onto the lettings market
Other (explain yourself below!)…
Thought you might be interested in some daft.ie stats I’ve put up on Manyeyes.com. It’s a heatmap of changes in property prices across Ireland. The figures are at county level and look at the year-on-year change each quarter from early 2007 to Q3 2008.
I’ve put a quick overview of the visualization, as well as a link to it, on my personal blog. Comments here or on the blog most welcome, and as a reward (if you’re into that kinda thing!), if you click through to the Manyeyes visualization itself, you can access the dataset underpinning the heatmap.
Any thoughts on whether this kind of thing is useful and/or what statistics should be heatmapped - e.g. stock or flow statistics, yields, rents - are welcome… Or even fill out the poll for this thread. It won’t be possible to do absolutely everything, naturally, but feedback helps prioritize.
Excellent visualizations. I may need new spectacles, but there seems to be some evidence for a house price region cascade, especially in the expansion phase. Itulip’s animated gif of this theory unfortunately has been removed from their site: itulip.com/housingpriceregionscascade.htm
The gist of it is this:
Property prices are rising faster than wages in Dublin so workers must buy in the suburbs.
Speculators notice this and also buy in the suburbs so price there is soon beyond wages.
So workers move out to the exburbs (Longford, Balbriggan) as do speculators.
Soon the exburbs are too expensive for the bulk of the workers, but Joe Durtyblackpint has to rent in Dublin and get on “the ladder” by buying a holiday home in Sligo and Donegal. (And eventually Spain, Portugal, Bulgaria, Turkey)
Now the prices there are far beyond local wages in these far flung lands so there’s not a chance of selling to local blokes at speculator fueled prices so Donegal falls the fastest, then the exburbs, then the suburbs and finally the capital.
The same thing played out all over the world but to date, yours is the best visualization of this phenomenon.