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 Post subject: Re: CSO Residential Property Price Index - megathread
PostPosted: Mon Nov 21, 2016 5:23 pm 
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What has happened in this country is absurd, I suspect we will look back in 3-4 years and think how on earth did we engage in such collective madness. First we had one of the biggest property bubbles in the developed world and our solution was to re-inflate the bubble. The next collapse, just like the last time will be driven by a confluence of external factors to which Ireland will be not only unshielded to, but highly leveraged to. What is game-plan for this country when Europe comes apart at the seams? No doubt our elected officials are busy building contingency plans complete with sustainable economics. Basket case country run by cute hoors.


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 Post subject: Re: CSO Residential Property Price Index - megathread
PostPosted: Mon Nov 21, 2016 7:20 pm 
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FreeFallin wrote:
That EC report being discussed on Newstalk now....with Ross Maguire on as the talking head !!! A barrister talking about economics

A barrister heavily involved in 'dealing with' the casualties from the last bubble. I presume that was the context of his contribution?


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 Post subject: Re: CSO Residential Property Price Index - megathread
PostPosted: Mon Nov 21, 2016 7:38 pm 
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Planning Tribunal Attendee

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Posts: 1300
wait until we get in EBC a Japanese Kamikaze QoE style: keep buying stocks and doing all they can to get 2% inflation.
http://www.bloomberg.com/news/articles/ ... s-investor


EBC QoE is even bigger failure than Japanese so far, so I expect more magic to come in 2017.

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Why is it so windy here?

This is my best finding this year:
06/2007: Central Bank predicts soft landing for housing
http://www.independent.ie/business/iris ... 96858.html
It's all grand


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 Post subject: Re: CSO Residential Property Price Index - megathread
PostPosted: Tue Nov 22, 2016 12:20 am 
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newirishman wrote:

Maybe someone can help - I am looking at the report from the EC but I somehow fail to identify where it says that Irish house prices are undervalued.


This is the report, pages18/19:
https://ec.europa.eu/info/sites/info/files/2017-european-semester-alert-mechanism-report_en_0.pdf


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 Post subject: Re: CSO Residential Property Price Index - megathread
PostPosted: Tue Nov 22, 2016 5:47 am 
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Too Big to Fail

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Posts: 4312
osiri wrote:
newirishman wrote:

Maybe someone can help - I am looking at the report from the EC but I somehow fail to identify where it says that Irish house prices are undervalued.


This is the report, pages18/19:
https://ec.europa.eu/info/sites/info/files/2017-european-semester-alert-mechanism-report_en_0.pdf

Ireland is not Dublin

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 Post subject: Re: CSO Residential Property Price Index - megathread
PostPosted: Tue Nov 22, 2016 9:20 am 
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Of Systemic Importance

Joined: Nov 4, 2011
Posts: 5090
Location: SthDub
Barney Gumble wrote:
FreeFallin wrote:
That EC report being discussed on Newstalk now....with Ross Maguire on as the talking head !!! A barrister talking about economics

A barrister heavily involved in 'dealing with' the casualties from the last bubble. I presume that was the context of his contribution?

Not from what I heard...he was actually discussing house values!


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 Post subject: Re: CSO Residential Property Price Index - megathread
PostPosted: Tue Nov 22, 2016 7:55 pm 
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Planning Tribunal Attendee

Joined: Jul 31, 2011
Posts: 1300
>Ireland is not Dublin

It is for most of EU.
From economic point of view is it more than 50% of GDP ?

_________________
Why is it so windy here?

This is my best finding this year:
06/2007: Central Bank predicts soft landing for housing
http://www.independent.ie/business/iris ... 96858.html
It's all grand


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 Post subject: Re: CSO Residential Property Price Index - megathread
PostPosted: Mon Dec 19, 2016 11:11 pm 
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Too Big to Fail
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Posts: 4751
CSO Residential Property Price Index – October 2016 & Overall figures:

http://www.cso.ie/en/releasesandpublica ... tober2016/

Image

Notes:
1. Per the official PPR there were 33,994 Property Purchases in Jan-Sep 2016 as at 17/11/16.
Per BPFI there were 18,993 Mortgage Drawdowns in Jan-Sep 2016. See here for details viewtopic.php?f=4&t=26451&p=814001
Therefore 44.1% of all Sales were Cash purchases to date in 2016.
This compares to 47.6% cash sales in 2015, 50.7% in 2014 and 52.3% in 2013.

2. As of September 2016 the Index has been updated to now cover all market purchases of houses and apartments by households, both cash and mortgage-based transactions. All previous figures have been revised using this new method to January 2005.

3. This index is a lagging indicator of the Irish mortgage market. These houses were probably Sale Agreed 3-6 months ago, depending on how long it took for the sale to go through. So it may no longer be reflective of current market conditions.


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 Post subject: Re: CSO Residential Property Price Index - megathread
PostPosted: Mon Jan 16, 2017 12:09 pm 
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Location: Lovely Leitrim
http://www.cso.ie/en/releasesandpublica ... ember2016/

Property price inflation accelerates to 8.6%

http://www.irishtimes.com/business/econ ... -1.2938646

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 Post subject: Re: CSO Residential Property Price Index - megathread
PostPosted: Mon Jan 16, 2017 3:58 pm 
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Property Magnate

Joined: Oct 12, 2014
Posts: 546
Location: Dublin
NegativeEquity wrote:
http://www.cso.ie/en/releasesandpublications/ep/p-rppi/residentialpropertypriceindexnovember2016/

Property price inflation accelerates to 8.6%

http://www.irishtimes.com/business/econ ... -1.2938646

We're nearly there everyone - we've nearly "recovered" to 100% of the baseline!
If we all just push hard, we can get this bad boy all the way back up to the full recovery high water mark of summer 2006.
With the help of the Gubbernment & VIs we'll get there!
:-GC


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 Post subject: Re: CSO Residential Property Price Index - megathread
PostPosted: Tue Jan 17, 2017 7:44 pm 
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Too Big to Fail
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Joined: Aug 20, 2009
Posts: 4751
CSO Residential Property Price Index – November 2016 & Overall figures:

http://www.cso.ie/en/releasesandpublica ... ember2016/

Image

Notes:
1. Per the official PPR there were 34,031 Property Purchases in Jan-Sep 2016 as at 17/01/17.
Per BPFI there were 18,993 Mortgage Drawdowns in Jan-Sep 2016. See here for details viewtopic.php?f=4&t=26451&p=814001
Therefore 44.2% of all Sales were Cash purchases to date in 2016.
This compares to 47.6% cash sales in 2015, 50.7% in 2014 and 52.3% in 2013.

2. As of September 2016 the Index has been updated to now cover all market purchases of houses and apartments by households, both cash and mortgage-based transactions. All previous figures have been revised using this new method to January 2005.

3. This index is a lagging indicator of the Irish mortgage market. These houses were probably Sale Agreed 3-6 months ago, depending on how long it took for the sale to go through. So it may no longer be reflective of current market conditions.


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 Post subject: Re: CSO Residential Property Price Index - megathread
PostPosted: Wed Jan 18, 2017 1:19 am 
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Property Magnate

Joined: Oct 11, 2012
Posts: 612
What is the base year? 2004?


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 Post subject: Re: CSO Residential Property Price Index - megathread
PostPosted: Wed Jan 18, 2017 5:13 am 
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Too Big to Fail

Joined: Sep 13, 2012
Posts: 4312
Base Period

The base period for the RPPI is January 2005. Therefore, the RPPI answers the question how much would it cost to purchase the same set of dwellings sold in January 2005 in any subsequent month? The index for January 2005 is set to 100 and all subsequent price movements are expressed relative to this base.

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"It's easy to confuse what is with what ought to be, especially when what is has worked out in your favour"
Tyrion Lannister


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 Post subject: Re: CSO Residential Property Price Index - megathread
PostPosted: Wed Jan 18, 2017 4:14 pm 
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Property Magnate

Joined: Oct 11, 2012
Posts: 612
Eschatologist wrote:
Base Period

The base period for the RPPI is January 2005. Therefore, the RPPI answers the question how much would it cost to purchase the same set of dwellings sold in January 2005 in any subsequent month? The index for January 2005 is set to 100 and all subsequent price movements are expressed relative to this base.


Merci


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 Post subject: Re: CSO Residential Property Price Index - megathread
PostPosted: Fri Jan 20, 2017 1:29 pm 
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Of Systemic Importance

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Posts: 5090
Location: SthDub
Irish house prices: second highest increase in European Union
Home prices in Ireland jumped by 4.7% in third quarter of 2016, says Eurostat
http://www.irishtimes.com/business/econ ... -1.2944689
Quote:
House prices in Ireland jumped by 4.7 per cent versus the second quarter, behind Malta, which saw prices rise by 5.4 per cent, but ahead of Estonia, Lithuania and Hungary, all of which showed a 3.4 per cent increase.
The latest figures show euro zone house prices grew at the fastest rate in more than eight years in the third quarter.
Hungary has biggest annual rise
Prices climbed 3.4 per cent on an annual basis, the highest rate seen since the first quarter of 2008, when prices rose by 3.5 per cent. However, on a quarterly basis, euro zone prices were up by just 1.3 per cent.
House prices for the EU as a whole climbed 4.3 per cent in the third quarter and were up by 1.5 per cent versus the preceding three-month period.
The highest annual increase in house prices in the third quarter of 2016 was recorded in Hungary, where prices jumped 11.6 per cent. Latvia had the second highest year-on-year rise, up 10.8 per cent, followed by Bulgaria, where costs rose 8.8 per cent.
The biggest annual declines in prices were in Cyprus, down 3.3 per cent, and Italy, where prices were 0.9 per cent lower.


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