In Ireland, the first detailed localised view of the property market has been launched. The Daft.ie/AIRO property value interactive map tool, created by Ronan Lyons (Oxford University) and Justin Gleeson (AIRO/NIRSA, NUI Maynooth) taps into the million+ daft.ie property records and it provides comparable data from 2007-2012. The data enables users to view the change in sales and lease prices and the expected yield for properties.
Real estate sales data is available for 1,117 areas, rental data for 312 areas, and yields for 4,509 areas. Combining this information also provides information on rental yields for all 4,509 Census districts (electoral divisions and enumerator areas) in the country. The property value interactive map tool is interactive, easy to use and most importantly, it is gratis to all users.
The methodology used makes each area comparable by controlling for differences in properties (such as type and size) – for more on the methodology, click here. The averages shown for each area are weighted average prices and rents across five property sizes (1-5 beds) and 5 property types (apartment, terrace, semi-detached, bungalow and detached). Relationships between property types are calculated at the regional level (Dublin, other cities, Leinster, Munster and Connact-Ulster), which is how estimates for particular property types exist even in areas where such properties (e.g. 1-bed apartments) are rare. It should also be noted that, even with the large number of distinct zones, it is possible further variation exists within any given zone. Also, prices for any given quarter refer to listings made in that quarter, not for all properties on the market at that time; thus 2012 Q2 prices refer to average for properties coming on to the market in April, May and June 2012.
The mapping tool is based on ArcGIS Viewer for Flex technology from ESRI and runs on any device that supports Flash.