Property prices rising?! Thoughts on the latest firesale auction

Ireland saw its first “fire sale” auction in April 2011 and over the months since then they have become an regular feature, with at least six auctions held by Allsop/Space in Dublin in that period. Last Autumn, I analysed the results of the first three auctions and concluded that, comparing the September auction to the […]

Is Ireland running out of cash buyers? Insights from another property fire-sale

Last week saw Ireland’s third property fire-sale. These auctions give a unique set of data-points for property market analysis. This post analyses the third auction, outlining the typical fall from the peak and the yield achieved, one of the most important metrics in the market. It also highlights some interesting trends comparing the auction results with those from previous auctions.

Market thickness matters – insights from the second fire-sale auction

This post analyses the information contained in the recent second “fire-sale” auction of Irish properties. By combining the auction results with an economic model of house prices, it’s possible to estimate how far auction prices are below the peak and below current asking prices. It’s also possible – using the results from the two auctions – to compare Dublin and the rest of the country: while asking prices have fallen more in Dublin, closing prices have fallen by less, and the gap between ask and close in Dublin is nearly half that of elsewhere. This suggests that “market thickness”, information and the proposed house price database matter.

What the Friday Firesale tells us about Ireland’s property market

Last Friday saw a much publicised “firesale” auction of distressed properties in Dublin. The fact that the prices achieved are known presents an information-starved public with some very valuable information on the current price level in the property market. This post uses a property-by-property analysis of the auction to estimate the fall in prices from the peak and the current gap between asking prices and prices achieved. It also looks at the important question of the relationship between the rent and the house price and shows how this can be used by prospective buyers to inform their decisions.

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