This post reviews some measures of the health of the various property markets around Ireland, using transactions-based metrics not price-based ones. It finds that Dublin has seen an improvement in market conditions in the last six months, although it’s less clear whether other regions have reached the turning point yet.
The volume of transactions may be a good indicator of how overheated a property market is. Figures on completions, housing stock and mortgage approvals allow an estimate of the number of transactions by county. The figures for 2005-2008 show a set of counties – including Laois and a mid-west corridor – where almost 30% of properties were traded in that period. Sure enough, these figures correlate very highly with the percentage of properties currently for sale in each county.
