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Last week the Irish Times reported Dublin property prices fell 2.3%. The headline made RTE, every news outlet, every property WhatsApp group in the country.
I went through the actual data. Here’s what it really shows.
In this video I break down three reasons why the 2.3% figure tells you almost nothing about what’s actually happening in the Dublin property market — using live Daft data, the Property Price Register, and 20 years of experience in real estate.
What I cover:
Why averages are almost useless for understanding property prices
How the type of homes coming to market has changed — and why that distorts the headline number
Why the data the headline is based on isn’t even complete yet
What the median sold price actually shows (it moved €5,000 in a year)
I’m not an agent. I have no commission riding on whether prices go up or down. I’m a qualified valuer and I studied economics — and the first rule of valuation is never use averages.
The headline changed. The market didn’t.
Credit to : Shane Fleming