House price volatility: The role of different buyer types

Dermot Coates, Reamonn Lydon () and Yvonne McCarthy
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Dermot Coates: Central Bank of Ireland

No 02/EL/15, Economic Letters from Central Bank of Ireland

Abstract: This Economic Letter examines the link between house price dynamics in Ireland during the recent housing boom and the composition of buyers in the market. The analysis provides information on the relative riskiness of different buyer types, a topic that has increased in importance with the recent Central Bank of Ireland proposals to cap loan-to-value and loan-to-income ratios for new mortgage borrowings. The analysis points to an association between periods of strong house price growth and the changing composition of Irish property purchasers, and in particular, the rise in the BTL segment.

Date: 2015-01
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