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 Post subject: WGU on the New Boom in Broadsheet.ie
PostPosted: Wed Aug 28, 2013 8:34 pm 
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Too Big to Fail

Joined: Nov 9, 2006
Posts: 4478
Location: South of the Border
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!

http://www.broadsheet.ie/


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 Post subject: Re: WGU on the New Boom in Broadsheet.ie
PostPosted: Thu Aug 29, 2013 8:44 am 
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Too Big to Fail
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Joined: Aug 20, 2009
Posts: 4771
Well done WGU

Link here
http://www.broadsheet.ie/2013/08/28/boom/#comments


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 Post subject: Re: WGU on the New Boom in Broadsheet.ie
PostPosted: Thu Aug 29, 2013 9:01 am 
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Nationalised

Joined: Sep 29, 2010
Posts: 7881
Location: London, innit
WGU if the large scale purchases such as Clancy Quay are excluded how much does that shift the data by?

http://propertypriceregister.ie/website ... enDocument
Quote:
Sale Information
Date of Sale: 19/06/2013
Price: €60,528,634.00
Not Full Market Price: No
VAT Exclusive: No
Description of Property: Second-Hand Dwelling house /Apartment
Property Size Desc.:


the DAFT.ie register implied poor value...
Quote:
Clancy Quay, Islandbridge, Co. Dublin
€60,528,634 | 19/06/13 | Apartment For Sale | 1 Bedroom | 1 Bathroom


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 Post subject: Re: WGU on the New Boom in Broadsheet.ie
PostPosted: Thu Aug 29, 2013 9:47 am 
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Homeless

Joined: Feb 17, 2010
Posts: 5
This chart seems to be in a lot of threads...

anyway I showed what is wrong with it in another thread.

the average price in any band will always be the same!


The average price in the say, 400k to 500k range will always be about 450k.


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