It’s not dated so I am not absolutely certain when AIRO posted this to their site. It’s a graph of the changes in two sections of the Irish property market since 2005, Dublin, and National ex-Dublin.
It’s very interesting for a couple of reasons. It demonstrates that both the increase and decrease in market prices in Dublin was sharper than it was in National ex-Dublin. This doesn’t totally surprise me – anecdotally there has always been some evidence to suggest the prices are were behaving at more extreme levels in Dublin. It’s interesting to see how the graphlines cross (do click through – it’s worth it).
The data is from the CSO and as far as I am aware, CSO data is limited to the mortgage market. This is interesting because there is some evidence to suggest that a lot of the market in Dublin, in particular, in recent months, has been cash driving. Without having the CSO data in detail, and a cleaned up extract from the Property Price register, it would be hard to say for certain what the split was.
The other chief regret I have about this data is that it only goes back as far as 2005. I’m mindful of sounding like an auld one but there is some evidence to suggest that the period from about 1997 might be educational as well. I guess a lot depends on what data you have available to you.
Anyway, this was done in Tableau and there is some scope for playing around in it. I am glad AIRO did it – it’s a useful exercise, and perhaps, there might be some scope for doing a county by county comparison. We have a lot more data now on the property market than we did even 3 years ago (yes, I have some programming under way for it myself) so information should be easier to come by, particularly if and as we get postcodes, the data will be cleaner up front.