A Complete Explanation Of Everything

A salutary lesson taken verbatim from the 'pin...

"Question - The ERSI price survey compiles mortgage information so I'm guessing this is based off prices agreed some months ago. Anybody have any idea what the likely time lag is? And also I'm guessing the prices are being artificially boosted from poor schmucks who put down life savings on builds ages ago and are now going to have to purchase their completed dream shoe box below value. Any thoughts on how to quantify this effect?"

"The ESRI survey used to work off mortgage drawdowns. They changed it last year. Now it's based on PTSBs valuations of selected properties.

In other words it's pure nonsense."

"Really so there is no accurate measure of housing prices in Ireland at all?

PTSBs??? Apologies new to all this!"

"Correct.

Welcome to the world of the Irish Property Market"

http://www.thepropertypin.com/viewtopic.php?p=68858#68858