Primarily concerned with population figures, the results show an increase in population for the Youghal area, both urban and rural.

For the urban area of Youghal town itself, the population increased from 6,393 people in 2006 to 6,990 in 2011, an increase of 597 or 9.3%. Of these, 3,517 were female and 3,473 male.

Including suburbs and environs, the population of the town increased to 7,794 from 6,785 in 2006, a 14.87% increase.

Youghal’s hinterland is divided into areas for the purposes of the census, with Youghal Rural Area No 1 being west of the Blackwater and covering Ardagh, Clonpriest, Kilcronat, Killeagh, Kilmacdonagh and Youghal rural (part).

These areas witnessed an increase in population from 4,179 in 2006 to 5,301 in 2011, an increase of 26.8%. The population of Killeagh village itself increased from 1,061 to 1,330, a 25.4% increase.

Youghal Rural Area No 2 district comprises the Waterford environs covering Ardmore, Ballyheeny, Clashmore, Glenwilliam, Grallagh, Grange, Kinsalebeg and Templemichael. This area saw an increase in population from 3,193 to 3,423 between 2006 and 2011 or a 7.2% increase.

Ardmore village increased in size from 709 to 733 (+3.4%) whilst Clashmore increased its population from 400 to 405 (+1.2%).

Elsewhere, Midleton grew to 12,001 inhabitants, a 19.4% increase whilst Cobh had a population of 12,347 in 2011 according to the census, an increase of 9.2% since 2006.

Cork City and surburbs increased by 4.3% to 198,582 with Cork City itself numbering 119,230. Cork County was recorded as having 399,802 inhabitants in the census and combined, Cork City and County had a population of 519,032 comprised of 257,470 males and 261,562 females.

Other nuggets also emerge from the census – Carrigtwohill was amongst the towns in Ireland with the fastest growth rate between 2006 and 2011 with a 64% increase in population from 2,782 to 4,551. Ennis, in County Clare was the largest town in Munster with 25,360, followed by Tralee (23,693) and Clonmel (17,908).

53% of Munster’s population lived in urban areas with the remainder (46.9%) living in rural areas whilst nationally, 62% of the population was categorised as urban and 38% rural. Yet this urbanised 62% occupied just 2.4% of the land area!

Loyalty to our birth county also remains strong with three quarters of the country’s 3.76 million Irish born residents classified as residing in the county of their birth at the time of the 2011 census. Cork people remained fiercely loyal to their County (as ever!) with just 15% of those who moved in the year leading up to the census leaving Cork, the lowest such percentage recorded in the survey.

Normally, in the residential market, a comparative value is what is utilised by many people when attempting to value a property, either for sale or with the object of purchasing.

But there can be many problems associated with the comparative method and if not factored into a valuation, lead to an incorrect appraisal of a property’s value.

Firstly, it is important to realise that the comparative method may not even be the most suitable type for valuing a given property – a builder or investor for example will often have different valuations to owner occupiers for the same property and therefore residual or investment valuations may be more appropriate.

If utilising the comparative method however, one of the first issues to decide is what to compare the property to. In a residential estate or neighbourhood, this may seem simple at first – after all, many houses on an estate may be of a similar house design or type.

But on closer inspection, comparative data may be lacking – similar properties may not have sold recently leading to a lack of up to date comparative data whilst the condition of the properties analysed may be different – gardens may vary in size, the condition of the properties may vary or the location in the estate may be beneficial or detrimental to any given property.

Given such a scenario, the problems associated with a comparative valuation quickly become obvious. However, there are means to overcome such a scenario.

Firstly, valuers may have access to unpublished market data such as offers on other properties which were for sale in the estate. Whilst this data will be unrecorded in a register of property price sales, the data can be useful to a valuer in more accurately gauging a public’s perception of property prices in the given area.

Secondly, available comparative data can be analysed or utilised in various ways – it can be aggregated and broken down into average price per square foot (or metres) to allow for size discrepancies whilst conditional differences in the properties can be catered for in the valuation – e.g. If we are trying to ascertain the value of property A and know the sale price of property B, we can allow for the cost of a new kitchen in property A which would bring it up to a comparable standard to property B.

Thirdly, there is also the impact of personal circumstances to take account of when comparing properties. In previous sales in the locality for example, cash buyers may have obtained a property below its actual market value or the suitability of a house or site to a particular purchaser may have seen them pay above the market value in order to obtain it. Such instances can have a disruptive effect on comparative data with recorded prices higher or lower than they may actually be due to the circumstances involved with each particular sale. This should particularly be borne in mind when comparative data is limited to one or two neighbouring properties which may have sold recently.

It is also important to bear in mind that valuations can be fluid over time. The marketplace is constantly changing and there is a need to recognise the impact of market changes on the valuation of a given property. In this sense, valuations based on comparative data should take account of changing market conditions and if necessary, apply appropriate adjustments to the valuation based on the age of the data concerned. In some cases, likely market trends can also be factored into the initial valuation based on an estimate of the length of time it may take the property to sell.

Comparative valuations are often used by prospective purchasers and sellers because of their relative simplicity. But it always needs to be remembered that comparable data can be skewed in specific instances or that modifications need to be made to the data to arrive at a truly accurate comparison. And where comparable data is acutely lacking, it may be more beneficial to utilise other valuation methods instead.

But what is surprising is the blundering way the government has handled the issue, resorting to threats to force compliance with a tax that many feel is unjust.

The government has only itself to blame. It had ample time to devise a tax that was fair and equitable. Instead, it is attempting to force through a charge that takes no account of the size or value of the property or the wealth of the owner, other than some blunt and blind exemptions for sections of the populace.

Not alone is the household charge indifferent to whether someone can pay but for most families it comes on top of other recent increases in the cost of living, much of it government imposed either directly or indirectly – car tax increases, VAT increases, insurance levies, private pension levies, health insurance increases, rail and bus fare increases, DIRT increases, septic tank charges, college registration fees and in the not too distant future, water charges.

Despite trying to allay people’s fears (and failing) over the household charge, the only thing the government can promise is that property tax will significantly increase in the years ahead. Indeed, Phil Hogan, the Environment Minister with responsibility for the issue has already appointed an ‘expert’ (don’t laugh!) group to devise this even more substantial property tax, made up of “senior officials from the Departments of Environment, Community and Local Government; Finance; Public Expenditure and Reform; Communications, Energy and Natural Resources, Social Protection and the Revenue Commissioners.”

A future property tax in Ireland will particularly worry the working poor whose incomes may bear no relation to the property they reside in, the result of either the deep recession or inherited farmsteads and homes across the country. Without any reassurance from the government over future ability to pay clauses, it is an issue which will worry and anger many people, afraid of losing family homes if they are unable to afford future property taxes. Also hugely angered are many others – those struggling under ‘boom’ time mortgages or those who paid massive amounts of stamp duty to the government in recent years for example.

But even more bizarrely is the government’s own actions. At a time of IMF funding, a rocketing national debt and controversial bond payments, we have Taoiseach Enda Kenny grabbing the headlines demanding a €35,000 pay rise for one of his associates and a coterie of Ministerial ’special’ advisors hired on pay rates well in excess of government guidelines. This self centred illogical largess has done the government no favours in its caustic fight against hundreds of thousands of normal, law abiding citizens.

Whilst much of the national property focus has been on the sales market and the sometimes errant method of monitoring house price in terms of price rises and falls (instead of yields or cost to income ratios for example), the rental market is just as crucial in the overall national property market.

The latest Daft.ie rental report covering to the end of Q4 2011 allows a glimpse into this market. Although based on asking rents rather than actual rents, trends are discernible in the reports. At a future stage, the PRTB, who has data on the actual rents achieved by properties, may be able to collate and publish the data on a continuous basis to aid transparency in the marketplace.

But the current Daft.ie report shows that the stock of properties to rent is at a three and half year low although still far higher than at the end of the boom in 2006 /2007. This decline in the number of properties to rent could be due to a number of factors, the main one being the absence of a functioning sales market – with buyers either holding off purchasing a house or unable to obtain a mortgage, far more are renting either by choice or circumstance, helping to sustain the rental market for the time being.

According to the Daft report, rental prices in Cork City rose by 2.6% to €865 a month, (Year on year from Q4 2010) whilst in Cork County, rents dropped by 1.99% to €669 a month, a huge difference to the average 18% drop witnessed in house prices over the same period (according to the Q4 2011 Daft House Price report).

Anecdotal evidence from our own portfolio of managed properties also back up these figures. Property under management in Cork City, Midleton and Youghal have mostly been quick to rent with reduced vacancy levels and faster turnover times. Rents have also been mostly stable with good quality accommodation in demand as always. The length of each tenancy varies – families renting houses in the suburbs of Cork City such as Douglas, Frankfield or Glanmire tend to remain in situ longer. Younger professionals who often rent city centre apartments may move between rental properties more.

But whilst rents have been a lot more stable than house prices, there is also the question of how government intervention is impacting on these statistics. The government run rent supplement scheme accounts for 40% of the private rental market according to Joan Burton, Minister for Social Protection, who queries if the lower adjustment in rental prices compared to sales prices is a result of this government intervention, effectively acting as a brake on potential rent reductions.

As evidence, she points to the way rents have stabilised around the limits provided by the rent supplement scheme, even where properties are being rented to private tenants. And in many cases, rent supplement limits were higher than the average rental asking prices for properties. Whilst limits have already been reviewed in 2010 and 2011 by the government and tenants in receipt of the supplement have had their minimum contributions increased, Minister Burton’s comments may herald a further review of rent allowance payments.

Yet the costs for landlords continues to rise – the PRTB increased fees from €70 to €90 whilst the household charge has been levied on the owner rather than the occupier of a property. The NPPR charge is now €200 and the potential for future increases by a cash hungry government remains high.

Whilst actively managed properties can help to reduce costs with good tenants in situ, it will be interesting to see if future reductions in rent supplements limits will have a noticeable impact on the market, given the decreasing availability of rental stock at a time of increased demand. There are other significant factors to note when trying to predict future rental levels – immigration and emigration will have an effect as will increases in employment and unemployment which will adjust the level of government intervention through the rent supplement scheme. Finally, once a normal functioning sales market exists again, increased numbers of people may opt to buy rather than rent, also adversely affecting the rental market.

Amongst some of the improvements in the town during 2011 were the following;

The Town Walls - A feature of Youghal since the 13th century, the town walls received another grant for repairs during 2011. Approximately €46,500 in funding was approved which will focus on the section at the top of the jail steps. Given its proximity to the iconic Clock Gate, this is to be welcomed and the importance of the medieval town walls in attracting tourists and visitors cannot be underestimated. The section already restored along the back of St. Mary’s Collegiate Church and the Medieval Gardens is a wonderful demonstration of what can eventually be achieved with the remainder.

Blue Flags - Unlike other towns, Youghal does not have to rely on one singular attraction alone. In addition to Youghal’s many heritage and historical attractions, it also has miles of Blue Flag Beaches, a recognised mark of excellence for things such as water quality and cleanliness. Youghal was the only town in Ireland to be awarded three Blue Flags during 2011 and efforts to maintain this fantastic achievement continue.

Eco Boardwalk – 2011 also saw the welcome news that a beach boardwalk is to be constructed between the Front Strand and Claycastle Beaches, upon which work is already in progress. This initial section will measure 378 metres and adjoin the present Front Strand promenade once completed. It is envisaged that it will be extended as far as Redbarn in the future, something which would provide a fantastic leisure amenity along the entire length of Youghal’s three Blue Flag beaches. As Youghal’s beaches attract thousands during the summer months, the improvement of leisure amenities and attractions here will undoubtedly attract many more.

Free Exercise Equipment - Of course, the boardwalk compliments another feature which Youghal benefited from during the year and this was the addition of exercise machines along the Sli na Slainte walking route. These machines are free for whomever wishes to use them and are located at intervals along the route such as near the Slob Bank nature walk, the Green Park, the Lighthouse hill and the Front Strand and encompass a variety of machines such as cross trainers and air walkers. Some of the machines are located at spectacular vantage points, providing magnificent scenery views whilst you exercise!

Youghal Streetscape Improvements - The beginning of January 2011 saw additional streetscape works take place at Emmet Place, further improving the visual appearance of this important historical quarter around St. Mary’s Collegiate Church. The works complimented the already redesigned Church Street and maintained and extended the new street layout which is in evidence here. In October 2011, work began on tarring and resurfacing the town’s main street which resulted in a vast improvement over the pot holed and rutted surface of old. Further work has also been ongoing at Mall Lane (again!) to resurface it once more.

Of course, the huge effort put in by dedicated volunteers has also aided the development of the town. Youghal Tidy Towns Group continues its hard work in enhancing the visual perception of an already beautiful town whilst 2011 also witnessed the birth of a new voluntary group, Youghal Concerned Citizens, who managed to stage additional festivities in the town during the year, thereby increasing its profile.

Amongst the most successful was Youghal’s first ever Halloween themed festival, a three day family focused event which saw a headless horseman ride down North Main Street to kick start the festival. This was followed by a Halloween display at Barry’s Lane, story-telling, themed window dressing by businesses and the main event of a Halloween parade amongst which YCC volunteers, adults and children all in in fancy dress paraded up and down the town’s streets led by members of Youghal Pipe Band.

For the Christmas period, a Dickens’s themed festival was staged, something which saw Discount Thursdays introduced amongst the town’s traders whilst window displays were dressed up in unitary Victorian fashion by many of the town’s businesses.

As always, YCC is constantly in need of further volunteers so anybody who wants to lend a hand should contact them here.

Youghal can and should be one of the premier town’s in Ireland considering its scenery, heritage and leisure amenities and hopefully, 2012 will continue the hard effort and improvements that were witnessed in 2011.

In relation to the property sector, the main changes seem to be as follows;

- A €100 property tax on households which is being introduced although this will be waived for those on mortgage interest supplement or in unfinished housing estates

- For those first time buyers who bought between 2004 and 2008, mortgage interest relief will increase to 30%.

- For those who wish to buy a home in 2012, first time buyers will get mortgage interest relief at 25% whilst non-first time buyers will get 15% mortgage interest relief.

- Whilst applying to range of items, capital gains tax on the profits from the sale of certain types of property will increase to 30% from 25%.

- A Capital Gains Tax incentive has also been introduced which will apply to property bought by the end of 2013 and kept for more than seven years. The gains accrued during that period will not attract capital gains tax.

- For those with investment properties, PRSI will now also cover rental income from 2013.

- For investors with a gross income of over €100,000, a property relief surcharge of 5% on Section 23 type reliefs and Accelerated Capital Allowances will be applied.(Please check Revenue’s website for full details)

- Stamp duty on residential property remains unchanged whilst non-residential property will see the effective rate reduced from 6% to 2%. (Please check Revenue’s website for full details)

- For tenants on rent allowance, the minimum contribution by a single tenant single for the Rent Supplement scheme will increase by €6 to €30 per week. The minimum contribution payable by couples will be €35 per week in 2012. For Landlords, the rent supplement scheme will be reviewed during the forthcoming year.

Readers should double check Revenue’s website here for amendments or updates to the above which may be introduced over the coming days.

It officially opened on the 14th January, 1848 in the midst of An Gorta Mór, the Great Famine. Like many workhouses, it was built to a standard design albeit with some local modifications and covered 12 acres of ground whilst intended to cater for 700 ‘inmates.’

Workhouses were designed to be forbidding places. The official aim was to deter all but the most destitute from seeking charity yet the demands of the famine meant people flocked to them seeking some form of relief. In those destitute years, overcrowding, disease and the lack of proper sanitation coupled with small rations and poor quality food meant workhouses earned an ever grimmer reputation than originally intended.

Although Youghal was often a prosperous trading port throughout history, it still suffered the ravages of famine.

After two subsequent years of devastating potato crop failures in 1845 and 1846, ‘food riots’ were recorded in September of that year as people attempted to halt the export of foodstuffs from the town’s quays. Yet British military reinforcements soon arrived allowing the export of goods to continue. Two months later, the Cork Examiner was reporting on people having to trudge three days from the mountains into Youghal to seek sustenance, barely able to carry the weight of their own emaciated frames. For their efforts, they received 2 or 3 lbs of Indian meal which was in itself only enough for a further 3 days subsistence. It also noted that the number of coffins sold were never before in such demand.

As people exhausted their means, ‘Black ‘47’ soon arrived. Inquests in Youghal recorded how people died from starvation and in one instance, heard how a couple attempted to sell the corpse of a young boy to raise some desperately needed money. Again, British government policies made the situation worse, ending many famine relief works on the expectation that that year’s harvest would survive. On the 02nd April, the Cork Examiner commented on the situation in Youghal noting that “the poor labourers have been in great numbers discharged from the Works here, and no provision made for themselves or their wretched families. They are thus literally left to starve….Time will soon show that, whatever be their intentions, the conduct of Government officials will produce ruin and destruction in the country. There seems to be no concern about deaths by starvation at all.”

Youghal workhouse, which opened early in the new year of 1848 was meant as an auxiliary workhouse to the main one in Midleton. As in other workhouses at the time, people were often admitted in desperate condition and it is not strange to see entire families admitted on the same day or see families witness multiple deaths after admittance to the workhouse.

One such case is that of Mary Murphy, a widow with six children who were all listed in the Youghal workhouse records on the 13th February, 1848. On the 12th, 24th and 29th May, three of her children died being Robert who was 6, James who was 4 and Redmond who was just 9 months of age.

Another such instance is that of widow Margaret Cashman who was 45 when admitted on the 18th May with her three children. Within 23 days, three of the four family members would be dead, Margaret being the first to succumb just three days later on the 21st May followed by two more children on the 29th May and 10th June, being 14 and 15 years old at the time. This short time period between admittance and death was not entirely the fault of the workhouse – famine, malnourishment or disease may have been too far advanced to recover from despite gaining entry to the workhouse.

Sometimes, the records state the condition of people who arrived at the workhouse. James and Mary Daly were 70 and 75 years old when admitted on the 29th April, 1848, a note beside Mary’s name recording that she was in a ’state of starvation’ upon arrival. She died eleven days later on the 10th May.

Also commented upon was the case of Brigid Power who was admitted on the 26th March, 1848 with an accompanying note that she “was found by the relieving officer in a most wretched state lying in a ditch.” She died the following day.

There was a constant stream of admittals to Youghal workhouse during these times. The Spring of 1848 had seen people claw their way through the dark, bleak year of 1847 and the harvest of 1848 was still months away. On the 21st February, 1848, 35 people were admitted, on the 23rd of the same month, 10 more were admitted and later again on the 25th, a further 7 were allowed in.

Given the strains placed on meagre resources, overcrowding was common in workhouses at the time and Youghal was no exception. Two or three people could be found to a ‘bed,’ usually made of straw which was irregularly changed and in the unsanitary conditions, highly contagious epidemics easily and quickly spread. So bad was the situation that in May 1848, Lisgoold and Killeagh ‘fever sheds’ were ordered to remain open to try and halt the spread of disease in the main workhouses. Disease struck again in 1849 when during May and June that year, Field’s ‘Handbook of Youghal’ records ‘Asiatic Cholera’ accounting for 40 lives in Youghal during that period alone.

Although the famine situation began to ease after 1848, horrifying tales still emerge and the harsh regimes imposed by workhouses even in these dire times hardly helped. For example, in April 1849, a report in the Cork Examiner spoke of the ‘Black Hole’ of Youghal. As the report states, on “Friday 20th April, Patrick Connolly staggered into Youghal workhouse and was supported that day and Saturday by the workhouse. On Sunday, seized by hunger, he attempted to steal bread. Placed in what was called the Black Hole, a den eight feet by six with no fresh air or light, at 2pm that day, the starving Patrick Connolly died.”

An inquest into Patrick Connolly’s death condemned the ‘Black Hole’ and concluded that he ‘came by his death in consequence of being so confined in the said Black Hole and being deprived of his rations’.

Yet the rate of deaths varied greatly. For instance, of the 20 people admitted on the 24th April, 1848 to Youghal workhouse, there were 4 deaths, 2 were sent to hospital whilst the 14 remaining inmates are all logged as having left the workhouse, the latest doing so on the 19th August the same year, around four months later.

If we take a six month period from 13th February to 13th August, 1848, we can see that 162 deaths are noted in the register records out of the 182 days in the period. But some days witnessed spikes in the death rate such as on the 29th May or the 13th July when 4 people each day were recorded as dying in the workhouse whilst other days witnessed none.

Of course, the records do not tell the full story. Outside the confines of the workhouse, deaths often went unrecorded in official statistics and those who are logged as having left the workhouses may have subsequently perished through starvation or disease at a subsequent time.

In June of 1850, the Youghal workhouse still remained at capacity. It was listed as holding 1,088 inmates (despite being built to cater for 700) with 178 in the hospital section alone. Yet numbers declined over subsequent years – in October 1864, the state of the Youghal workhouse was given as 323 inmates plus 119 in hospital with a further 86 destitute relieved outside of the workhouse. And, at the beginning of the Free State, the numbers were given in April 1924 as 102 inmates with 51 in hospital, 14 ‘lunatics’ and 157 relieved out of the actual workhouse.*

The Free State ended the role of workhouses as centres of ‘relief’ for the poor. Although parts of Youghal workhouse were initially used as a hospital, it was unfit for purpose whilst other various proposals such as conversion to a barracks were suggested over the years. Unlike Midleton workhouse which still survives and is currently in use as a hospital, today the residential estates of Woodview Court, Blackwater Heights and Dermot Hurley now stand where Youghal workhouse once stood.

* – County Archives, Cork.

In this respect, it is useful to take note of some of the PRTB decisions regarding deposit retention.

As always, the need to prove damage beyond wear and tear is vital.

In one such case, a Landlord withheld a security deposit of €1,700 from the tenants, alleging damages to the property after a tenancy had ended. In its judgement, the PRTB tribunal decided that the Landlord had failed to provide sufficient evidence regarding the condition of the property at the start of the tenancy, had failed to provide sufficient evidence regarding the condition of the property at the end of the tenancy, had not carried out a formal inspection at the end of the tenancy nor brought any issues to the attention of the tenants when visiting the property two weeks prior to the end of the tenancy. The tribunal not alone instructed the landlord to return the retained deposit of €1,700 but also awarded damages to the tenants of a further €1,700.*

Whilst the above case highlights what can happen if the PRTB decides that deposit retention has been unfair, it can also simply disallow a claim for damages such as in another case. In this instance, the PRTB found that whilst the Landlord alleged damage to the property by the tenants, the Landlord failed to provide any evidence including documentary, photographic or vouched invoices and receipts, thereby being unable to prove the claim. *

As we have stated here previously, the start of a tenancy is as critical as the end of a tenancy, especially so when documenting the condition of properties.

Prior to letting a property, inventories should be compiled and any defects noted. This inventory should also be signed by the tenant to validate the condition of the property. Photographs should be taken and if repairs are required at the end of a tenancy, receipts, quotes or invoices should be available for any PRTB case. Whilst the PRTB can simply disallow a claim for damages if insufficient proof is provided, the possibility of fines in certain cases of deposit retention is a possibility if the PRTB decides circumstances dictate it.

However, when adjudicating on simpler issues such as fair wear and tear vs damages, some of the decisions are also noteworthy for landlords. For instance, in one case, a Landlord attempted to deduct money from a security deposit for the replacement of bulbs after a tenancy ended. However, the PRTB Tribunal ruled that the use of such bulbs constituted normal wear and tear during a tenancy. *

The second major point to note is in regards to lease terms. Like deposit retention, this is a common enough dispute in the PRTB arena. Whilst tenants should be aware that the PRTB does award outstanding rent to Landlords in cases where contracts have been broken or inappropriate notice periods are given, Landlords also need to be aware of their responsibilities in this regard.

Although the 2004 Residential Tenancies Act does allow a tenant to”‘assign” a lease, this remains a grey area in practise. However, even where a tenant has clearly broken a fixed term lease, a landlord is not guaranteed to have their claim upheld by the PRTB.

For example, in one instance a dispute arose between tenants and Landlord with the tenants breaking a fixed term lease claiming inability to meet the cost of electricity for the dwelling. Although the Tribunal found that the tenants had breached the contract, they also found that the Landlord had failed to provide sufficient evidence for the loss of subsequent rent, thereby ordering the Landlord to return the retained deposit which they had used to offset rental losses. *

There is also an existing onus on Landlords to re-let the property as soon as possible in order to mitigate their losses. In examining claims regarding broken leases, the PRTB may decide that a tenant is responsible for any outstanding rent during letting voids, the cost of re-letting or the difference in rent achieved (i.e. if the new rent was lower than the previously agreed rent for the remaining term of the contract).

The PRTB decisions give a good idea of what is required for this sort of claim. Landlords should be able show that they made genuine efforts to re-let the property whilst documentary evidence is also useful – newspaper ads, advertising receipts or letting agency letters. When claiming for unpaid rent, Landlords need to be aware that this can only be done in arrears. Claims regarding rent arrears should be supported by receipts, rent books, bank statements and rent arrears notices where applicable.

Details of decisions and Tribunal reports can all be found on the PRTB website, located here.

* – case numbers available on request.

In April of this year, it was revealed that just 3,259 mortgages were issued in the first quarter of 2011. This was down from the 6,954 mortgages issued during Q1 2010.

At this stage, it is impossible to forecast what the likely lending levels will be for the remainder of 2011, but it does allow us have a bit of lighthearted fun with the figures.

First of all, if we take the Q1 lending figure for this year and multiply it by 4, we can approximate the number of mortgages for 2011 as a whole – 13,036. Readers should bear in mind that at the height of the boom in 2006, over 40,000 mortgages were issued in a month.

It would not be inaccurate to argue that lending might increase somewhat during the spring and summer selling seasons (or it might decrease further!) but for the moment, we will utilise a figure of 13,036 mortgages to have some fun with.

If we look at recent Daft.ie residential housing reports, the stock of properties for sale nationally has remained at about 60,000 according to their figures.

This means that sellers have approximately a 21.6% chance of finding someone with a mortgage or roughly 1 in 5. On the flip side, it means 4 out of 5 houses could remain unsold over the course of a year.

We can further break down the mortgage figure using either local property statistics or national population figures.

According to the 2011 census, there were 4,581,269 people resident in the Republic of Ireland on April 10^th of this year. Dublin had 1,270,603 or approximately 27.74% of the country’s population whilst Cork city and county comprised 518,128 or approximately 11.31% of the Republic’s population. Broken down, Cork City had 118, 912 (2.6%) and Cork County 399,216(8.71%).

As the 2011 census figures do not yet show individual figures for towns across Ireland, 2006 figures are the most recent for these areas. Accordingly, our own local town of Youghal had a population of 6,785 taking its urban and rural divisions or 0.16% of Ireland’s population. (We will utilise the 2006 national population of 4,239,848 when calculating Youghal’s odds).

So lets apply these population statistics to the mortgage figures.

Based on a guesstimate of 13,036 mortgages for 2011, this means that for every man, woman and child in Ireland, only 0.29% of the population will have a mortgage issued.

But if we proportion the guesstimate of 13,036 mortgages according to the 2006 and 2011 population census figures, it breaks down into;

• Approximately 3,616 mortgages in Dublin.
• Approximately 1,474 mortgages for Cork city and county
• Approximately 21 mortgages for Youghal

Looking at Daft.ie gives us another take on these figures.

According to Daft, there were 7,705 properties for sale in Cork city and County when we quickly checked at the start of August 2011. Divided by the 1,474 supposed mortgages for Cork, this equates to a 19.13% chance of selling your property in this region.

For Dublin, the odds work out far better – probably too good in fact. Based on a figure of 6,435 properties for sale in this area according to Daft and calculating a percentage based on 3,616 mortgages, this translates into a 56% chance in the Dublin region.

For Youghal, based on 2006 population figures and a quick check of Daft which showed 279 Youghal properties for sale, the odds work out at a 7.53% chance of selling your property.

Of course, the above figures are at best guesstimates at the end of the day. Mortgage lending may well pick up during the spring and summer selling seasons or it may collapse even further, dramatically altering the rough estimates above.

Other facets of the market also apply – a three bed semi selling in a distressed sale for €50,000 will have more chance of selling than the neighbour’s similar property for €250,000, thereby increasing or decreasing the odds on any particular property.

There is also the fact that not everybody needs a mortgage – people who have sold property previously may find themselves in a cash rich position considering the falls in property prices, thereby negating the need for any mortgage.

And finally, not every property will be advertised on the internet whilst in other cases, duplicate listings may apply. In both cases, the percentages can be affected in substantial ways.

The average asking prices were as follows:

Three bedroom semi-detached €162,000
Three bedroom detached €218,000
Four bedroom detached €254,000

As in our Q1 Youghal property survey, there were huge differences to be found in the prices of properties, even within the same categories. The survey was also larger this time, comprising 214 assorted properties in the Youghal area. Three bedroom semis accounted for 21% of the listings with just under 49% of three bed semis having an asking price below the €150,000 mark. Four bed detached properties comprised 21% of the listings whilst three bed detached properties had 9%.

In our Q1 survey, the average asking price for a property in the Youghal area worked out at €223,000. Our Q2 survey shows this has declined to €210,000, a drop of 5.8% in the quarter.

Including all types of property, 50% had asking prices below €200,000 with just 16% asking at or above €300,000, a decline from the 18% witnessed in the last survey.

The price falls for Youghal mirror the national trend. This quarter’s property report from Daft.ie showed price falls of -5.1% in Cork city and -2.9% in Cork County whilst Myhome.ie showed Cork County price falls averaging -4.76%.

The statistics for Youghal will fluctuate depending on what is advertised during any survey and the figures are based on asking prices only. But they do give a general indication of what is happening at any given moment in time.

The survey was carried out at end of Q2 2011 and included 214 properties for sale. Duplicate listings on different websites or by different auctioneers were counted as one property. The results can also be affected by out of date or old listings which have not been removed by their owners.