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
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