Thanks for your remarks. The paucity of reliable and comprehensive information is an ongoing annoyance. Compare the information on Daft or Myhome to, say, Zillow.com in the US where you can read off asking prices per square foot directly along with a host of other stats. I’ve always felt it’s still worth pulling together the little information we have, even if we are “seeing through a glass darkly”. But I do need to remind people every now and again about the limitation of the asking price info in those graphs.
Only a little over half the listings on Myhome.ie give floor areas from which an asking price per square foot can be calculated. That improves to 75% for Dublin listings. But then, the smaller the region we zoom in on the smaller the number of listings we have. To take your example, this month’s snapshot of Dublin 6 includes 180 properties for which floor areas were given (out of 230 total). This will be more prone to random monthly fluctuations than Dublin overall, in which 3,600 listings out of 5,000 give floor area. For some post codes we have 50 listings or less, and the averages here should be taken with a large pinch of salt.
Add to this the presence of various outliers in the data. It’s beyond the ability of one person to sift through individual listings every month, so the best I can do is lop off the extreme bottom and top end of asking prices per square foot. The results should therefore be taken as indicative, not gospel truth. That said, I’m inclined to trust the trends that are revealed for the most populous areas. If asking prices in SCD or Dublin generally seem to be softening over a period of months, it’s probably a real phenomenon.
Asking prices, of course, can be more a measure of market sentiment than market reality. Another perennial aggravation is the inability to match asking prices in ad listings to eventual sales prices on the PPR. The vagaries of address matching yield too few reliable data points to be useful. (EDIT: I thought that the prevalance of Eircodes on the PPR was set to increase, but on checking just now I found a grand total of 23 Eircodes on the entire PPR).
The bottom line is we’re stuck with what we’ve got. It may not be much, but hopefully it’s better than the tea leaf gazing that passed for market prognostications in the boom era.