Ronan Lyons | Personal Website
Ronan Lyons | Personal Website

Search results for: negative equity

House price falls of 40% suggest 100,000 in severe negative equity

The latest Daft House Price Report, for Q3 2010, is out and this post reviews its main findings, including signs of easing price falls in Dublin and the likelihood of sellers finding a buyer. It also updates previous estimates of the number of households in negative equity, now over 200,000. The main worry has to be the number in severe negative equity of €50,000 or more, estimated at 100,000. Read more

Up to 60,000 households threatened by negative equity and unemployment

Currently, up to one in four households with a mortgage is faced with negative equity. At the same time, one in seven is coping with unemployment. It is likely, then, that there are in the region of 20,000 homes faced with both negative equity and unemployment. If the Live Register reaches 500,000 and house prices fall another 25% in the next year, this figure could treble to 3.5% of all households. Read more

How many Irish homes are in negative equity?

Ireland’s property market is currently in rewind. Homes now are at March 2005 values – or July 2004, if asking prices are 10% above closing prices. Figures from daft.ie, the Census and the Dept of the Environment allow an estimate of both the number of homes now worth less than when they were bought – about 725,000, or 40% of homes – and how many of those are in negative equity -about 340,000, or 20% of homes. Read more

Where in Ireland has seen the biggest increase in unemployment?

My recent post on negative equity led to some discussions, particularly on irisheconomy.ie, about the financial (i.e. NAMA) and labour market (i.e. dole) implications of negative equity. Here, I use Live Register figures to work out which counties have been affected most by unemployment since the start of the recession. A group of counties from Laois up to Cavan appear worst affected, although all counties have seen unemployment at least double. Read more

Is there any hope for Rent Pressure Zones?

The figures from the latest Daft.ie Rental Report earlier this week confirm the growing divide between the fortunes of the country’s sale and rental markets. In the sale market, new construction is starting to bear fruit. The additional supply, together with Central Bank rules that link sale prices to the real economy, is leading to […] Read more

Research

My academic research has three main areas of focus. One is the modern Irish housing market, including the determinants of sale and rental prices (and the relationship between the two) at the level of the market and the level of the individual property. Some of my published work in this area examines the relationship between […] Read more

House prices: bubbles versus booms

The end of one quarter and the start of another sees the usual slew of economic reports and the start of Q4 is no exception. Today sees the launch of the Q3 Daft.ie Report. In line with other reports in the last week or so, and indeed with the last few Daft.ie Reports, there is evidence […] Read more

A new dawn or the morning after the night before?

As with every New Year’s period, the end of 2012 and start of 2013 has brought a significant amount of taking stock, from the global economic outlook down to the prospects for the Irish property market. The “2012 in Review” Daft.ie Report has been released and marks an expansion of the range of information covered […] Read more

Property tax – it’s not rocket science!

Ireland’s struggle to introduce a property tax continues, as does the public’s fixation with it. A minor bullet point in this update to the IMF-EU “troika”, confirming what was already decided – that Ireland is going to bring in a value-based property tax – is (along with that other staple of Irish debate, abortion) leading […] Read more