As a new addition to IPW we intend to publish monthly volume/transaction statistics.
Over the period 4th January to the 15th of February 8,480 new properties listed on Daft. Over the same period 6,461 properties were removed (sold or withdrawn) from Daft.
An increase of 2,019 propertie for sale.
If no new properties were added to Daft it would take 10 months to clear the existing inventory at the current rate.
The markets in county Sligo and Leitrim are the slowest at the moment with over 18 months supply currently listed for sale and the average property remaining on the market for over 6 months.
The full report is available in html format.
Note : New developments are listed as 1 property even if the development contains numerous properties.
February 20, 2008 at 10:05 am
Keep up the good work.
However, a small correction is needed to the figures above:
8840 – 6461 = 2379, I think.
February 20, 2008 at 10:11 am
Thanks, the number of new listings should have been 8,480 instead of 8,840
February 20, 2008 at 1:27 pm
To IPW,
Guys your extracts are not including Bayside, Dublin 13 and Sutton, Dublin 13 got more listed than the extract details. Only one or two in the Bayside / Sutton area pulled from the market but the rest have been on for quiet some time now.
Possible reason for gap in data could be that some have been taken off daft.ie and moved over to myhome.ie but know work is ongoing to capture the complete picture.
Excellent work gents!
February 21, 2008 at 2:43 am
I seriously doubt that inventory is coming off daft onto myhome, if anything its the other way around. Perhaps in dublin people are just taking their property off the market in the hope that it picks up at a later date
February 21, 2008 at 2:40 pm
Hi Laura,
I know for a fact that some of the EA’s selling properties in those areas have gone out of their way to avoid listing stock on daft.ie as the data ends up hitting IPW and similar websites and so on. Obviously some of the EA’s out there in that area, the likes of Ferry Shitz, Pistol and JBK are trying to play the cute game. They are attempting to hold the asking prices artifically high which is off course is protecting self interests. There again, if you ask any of these EA’s they will spin the yarn that the vendor has high expectations.
Makes me laugh . . . the IAVI had a radio advert on RTE Radio One at about 07:45am just before Morning Ireland Business slot. There advert talks about how professional their members are and they are qualified and so on. Not too long ago Senator Shane Ross actually proved how ridiculously easy it is for anyone to become an EA.
When you start to hear adverts like this from the IAVI, their members must be feeling the squeeze and putting pressure on their representative body to to more to protect their self interests.
I’m all for boom boom times, but when the VI’s and EA’s get together and start ‘rigging’ the market, it smacks of cartel behaviour. I’ve no doubt their activities are being monitor very closely at the moment by the Regulator.
February 22, 2008 at 7:30 am
This is a disturbing story in today’s Irish Times – how bad can it get?
http://www.ireland.com/newspaper/frontpage/2008/0222/1203619239456.html
February 22, 2008 at 11:43 am
Recession could go into next year for the US. Over the last 11 recessions they have lasted for 20-26 months on average. It start officially in the US in OCt 07 so by Summer 09 a recovery could begin. But there is talk of Rolling Recession in which sector by sector get demolished starting with banks and real estate. Then it could go on another year. No matter what it takes us here about 6 mths to a year to follow the upward US trend. SO best case scenario is end of 09 for a recovery here worse case is mid 2011. Any pressure from Oil , Gold, Interest Rates War in Serbia again, could affect a recovery. But 2009-2010 seems reasonable no? The House prices will go back to the rate of inflation increases we have seen in the century prior to the boom. Back to the old days of making money the old fashioned way…..earning it
February 23, 2008 at 10:49 am
Re the Irish Times’ article… If leading building societies like the ESB and the Permanent are at risk, where then do those who have not played the property game but have saved their money, now put their savings? Is there any financial institution in Ireland which is safe – apart from the low yielding and rather inflexible An Post?
February 23, 2008 at 11:30 am
Victor asked wher people put their money and the simple answer is not in a building society in Ireland. The whole point of monetary union was to facilitate the free movment of goods, labour and capital. And that right should be excercised. You can open an account anywhere in the EU. The very strange fact is that few Irish people seem to grasp just how exposed their deposits are. The only protection we have is approx. the first 20K of our deposits / that is all that is guaranteed by the ECB. The fact that Northern Rock went bang indicates that a similar institution could become insolvent here. However, in the UK the BOE made the decision to save the bank and guaranteed all deposits because they believed the failure of NR would pose a risk to the whole UK banking system. If an Irish building society became insolvent would the ECB make a similar decision. Highly unlikley, that a small financial institution on an Island off the coast of europe would threathen the european banking system. This leads to the quite unusual situation that depositers in Northern Rock in Dublin have 100% of their deposits guaranteed by the British government but depositers in Irish building societies dont!
Banking is all a confidence game. When you deposit money to a Irish building society you are ineffect lending them your money. They then lend it on to borrowers and change a slightly higher rate. You have the right to take your money back at any time, but they cannot get their morgages back instantly. This is why they must keep confidence in the building society. But if anyone gets a sniff that these boys are in trouble then the money will bleed out quickly to banks in the UK, Germany etc. However, the big question is who -like the BOE – will funnel billions into these banks as loans to support them? The Irish government doesnt have a penny, the Irish Central Bank is just a shell with no money executing ECB policy so we would have to ask the ECB. Who knows what there answer would be?
February 24, 2008 at 8:33 pm
[...] on YTD – Volume Statistics by Victor Published in February 23rd, 2008 Posted by in Uncategorized Comment on YTD – Volume Statistics by Victor If leading building societies like the ESB and the Permanent are at risk, where then do those who [...]
March 5, 2008 at 9:14 pm
Good work DreadedEstate. keep it up!