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Stats on irish Mortgages

  • 16-02-2015 11:48am
    #1
    fret_wimp2
    Registered Users, Registered Users 2 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

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


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


    E7bZrKc.png


  • #3
    Slydice
    Registered Users, Registered Users 2 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.


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