Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Stats on irish Mortgages

Options
  • 16-02-2015 12:48pm
    #1
    fret_wimp2
    Registered Users Posts: 1,905 ✭✭✭


    Is there anywhere you can see trends and stats for Ireland such as
    -average mortgage size
    -average LTV percentage
    -Breakdown by salary (3 or 4 categories).

    It would be very interesting data, although probably not available with the CB being the only real repository for such data.


Comments

  • Options
    #2
    Michael D Not Higgins
    Registered Users Posts: 7,223 ✭✭✭Michael D Not Higgins


    This might be part of the answer you're looking for


    E7bZrKc.png


  • Options
    #3
    Slydice
    Registered Users Posts: 10,501 ✭✭✭✭Slydice


    You can find out how many houses aren't paying their mortgage in the central banks Residential Mortgage Arrears and Repossessions Statistics. Think this is their latest one: http://www.centralbank.ie/polstats/stats/mortgagearrears/Documents/2014q3_ie_mortgage_arrears_statistics.pdf

    117,889 not paying their mortgages

    I think it's better to look at how many haven't paid anything in over 2 years (720 days in their stats) which is 37,484

    15,435 of those are buy to let landlords...

    Rents are currently skyrocketing and the news today says they may have hit a peak for the simple reason that people don't have any more money they could possibly pay :(

    Total Repossessions in q3 2014 from that document were 47. Quick stats on those combined with the houses not paying mortgages:

    - 117,889 not paying their mortgages so 47/117,889 = 0.000399 so they repossed just less than 4% of 1% of all the houses not paying their mortgages

    - 37,484 not paying their mortgages so 47/37,484 = 0.001254 so they repossed just less than 13% of 1% of all the houses who haven't paid their mortgage in 2 years

    - 117,889 not paying their mortgages so 47/117,889 = 0.003045 so they repossed just less than 31% of 1% of all buy-to-let landlords who haven't paid their mortgage in 2 years

    Imagine having bought a place in Dublin 4/5 years ago to rent it out and not having to have paid a cent on the mortgage. Then increasing the rent to what seems to be considered sky high levels over the years.

    Goldmine!

    The chances of getting repossessed are 1/100 x 31/100 = 0.0031.

    So, basically, buy a place to rent out, guoge the tennants for rent, don't pay your mortgage and the chance of you getting repossed is: 31 out of 1000. Good odds.


Advertisement