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HPI Valuation Question

  • 31-12-2021 4:57pm
    Registered Users Posts: 34 fireglo2020

    1. I have a mortgage with Ulster Bank
    2. When I login to their online portal to manage the mortgage it shows House Price Index (HPI) valuation amount which is an estimated valuation based on market prices

    Does anyone know how I can calculate this number myself as I am curious as to how it does it? I know the data is publicly available but looking for a "for dummies" breakdown as it looks complex and maths isn't my strong point.



  • Registered Users Posts: 456 ✭✭ Q&A

    HPI valuation

    Your home value is based on our most recent valuation which is assessed against the Central Statistics Office Ireland. This index is based upon a national average and does not take into account differences between property types or local areas.

    In short divide your purchase price by the index value that corresponds to the month you purchased and multiply by the latest value.

  • Registered Users Posts: 34 fireglo2020

    Thanks for the explanation. My property is in Dublin and purchased in 2018. Can you deep link me to where that specific data is?

  • Registered Users Posts: 456 ✭✭ Q&A

    There are a lot of different indices on the CSO my guess is it's one if the monthly series.

    By design the fact your house is in Dublin doesn't matter for the estimated valuation provided by Ulster Bank. They just use the national average as a guide. Dublin growth rates tend to lag the national rates. So it likely overestimates Dublin values.

    I bought in late 2017 and have a chuckle at the the banks so called estimate. Comparing the estimated valuation to actual prices paid for houses around me suggest there could be anywhere from €50-100k difference between the two.