Who are the insolvent people in your neighbourhood?


YouTube Link: http://www.youtube.com/watch?v=VL5C14irKmE

Who Are The Insolvent People In Your Neighbourhood?

The new Insolvency Service of Ireland has been launched and one of the new Personal Insolvency Practitioners (PIPs) was interviewed on Irish radio about it on the day of it's launch.

What he had to say was enlightening - but not in the way he intended!

New Government service:
http://www.isi.gov.ie/
Jim Stafford, PIP, speaking on radio:
http://podcast.rasset.ie/podcasts/audio/2013/0909/20130909_rteradio1-drivetime-isipersona_c20435151_20435168_232_.mp3

Today With Pat, Seán And Myles

 http://www.rte.ie/radio/radio1-podcasts.html

http://www.rte.ie/radio1/podcast/podcast_patkenny.xml

Psssssst...... Wanna know why Dublin house prices are rising?

Arrears continue to rise:
 http://www.japlandic.com/2013/08/a-rocket-to-uranus.html

Mortgage lending continues to fall:
http://www.japlandic.com/2013/08/a-new-hope-nope.html

Yet... Dublin prices are apparently in a bubble:
http://uk.reuters.com/article/2013/08/28/ireland-economy-property-idUKL6N0GS3A920130828

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!):


The numbers are here:

And here are the three years graphed:

 - by numbers of sales

- by volume of sales

It's only a bubble if you're selling your multi-million Euro property!

Source data:
https://www.propertypriceregister.ie

Central Bank of Ireland - ahead of the game!


http://www.centralbank.ie/polstats/stats/mortgagearrears/Pages/releases.aspx

UPDATE: - 

The Central Bank will publish the arrears data on Friday 23rd August 2013 - 1 month ahead of schedule (NOT 2 months late - as some gobshite said!)

CSO RPPI Jan 2006 - July 2013

CSO Residential Property Price Index (excluding cash sales) Jan 2006 - July 2013

CSO House Price Index (excluding cash sales) August 2012 - July 2013

CSO House Price Index Changes (excluding cash sales) August 2012 - July 2013

Source: http://www.cso.ie/px/pxeirestat/statire/SelectVarVal/Define.asp?Maintable=HPM01&Planguage=0 

A New Hope? Nope!



Previously...

A New Hope?

IBF/PwC Mortgage Market Profile Q2 2013

Value of Residential Mortgage Loans

2005-2012

2005-2008



2009-2012

 Number of Residential Mortgage Loans

2005-2012

2005-2008

2009-2012

 Average Loan Value

2005 - 2012

 Home Owner Versus Investment Mortgages

2006 - 2012

Number Of Loans


 Value Of Loans


Source: http://ibf.ie/gns/publications/research/researchmortgagemarket.aspx

CSO RPPI Jan 2006 - June 2013

CSO Residential Property Price Index (excluding cash sales) Jan 2006 - June 2013

CSO House Price Index (excluding cash sales) July 2012 - June 2013

CSO House Price Index Changes (excluding cash sales) July 2012 - June 2013