Boom It May Concern
What Goes Up writes:
I’ve been pondering the Dublin “price rise” anomaly. Arrears continue to rise: Mortgage lending continues to fall: Yet… Dublin prices are apparently in a bubble: How is this possible? Easy – when volumes are so low, simply sell a couple of multi-million Euro properties and skew the data. Taking the numbers for Dublin from the Property Price Register for “July 2011 – June 2012″ and “July 2012 – June 2013″, we can match changes in sales volume to changes in sales value and see the almost perfect correlation (and the one obvious aberration!). It’s only a bubble if you’re selling your multi-million Euro property!