AS Ireland hauls its way painstakingly from recession, the question of how much your house is worth has never been a more pertinent one.
Because today, as the dust finally settles on one of the world's worst property crashes, house prices are both rising and falling simultaneously all over Ireland.
Indeed market performance has become so localised that values can be rising in one part of your county while falling in another.
So has your home soared in value by almost a quarter - by 22% – as experienced over the last 12 months by home owners in leafy suburban Dublin 14?
Or has your property's value remained exactly the same as it was a year ago, as experienced by most of the property owners who are based in the South Wicklow area?
Or worse, has your home's value plummeted by a whopping 14% – as experienced by home owners in Monaghan, the economically stricken border county?
So how much is your house worth?
Whether you own an apartment in Cork City, a semi-detached house in Sligo town or a duplex in Dublin, the Irish Independent has the answer. Today we bring you Ireland's most comprehensive values survey bar none.
Based on more than 3,600 valuations recently undertaken by local experts on more than 20 different property types and in more than 60 local markets, we'll not only tell you how much your home is worth today, we'll also reveal how much value it has gained or lost through the last twelve months.
We'll tell you exactly what it was worth a year ago and, based on local prevailing market conditions, we'll tell you what our experts think your home is likely to be worth a year from now.
In How Much Is Your House Worth? 2014, the Irish Independent also brings you a detailed analysis report of property performance in your local area. To do this, we've called on the opinions of more than 65 local professional property valuers.
In addition to your home's value, you will discover:
* Whether cash buyers are playing a role in your local property market and what percentage of purchases they account for.
* Whether supply of property to the market has become an issue in your area.
* What types of buyers are dominant in your locality.
* Where relevant, we'll tell you whether the local rental market is particularly strong or weak, whether or not investors are buying in your area and to what extent.
* Where it's relevant, we'll tell you whether or not the banks are lending in your area for house purchases and to what degree.
* Whether the banks are suppressing values by offloading stressed property in numbers in your area.
What we have discovered through our research is that the behaviour of the banks will play an absolutely pivotal role this coming year in determining whether prices rise or fall in your area, whether they do this by damping the market by offloading repossessed property, or whether they promote demand and increase values by facilitating mortgage lending once again.
In some counties a supply overhang is the factor keeping prices on the floor.
In Offaly for example, an apartment which cost €200,000 four years ago can now be bought for just €30,000. In others, like Dublin, shortage is driving up prices.
In some counties investors are back with a vengeance hoovering up properties with cash. Cash buyers now account for between 0% and 70% of home purchases everyday depending on where you live and whether your local property market has reached the bottom or not.
What our analysis also shows is that the property recovery has spread outwards from Dublin across the rest of the country albeit not quite reaching some parts of the midlands and the western seaboard where prices are still falling or flat.
Our data also shows that Dublin's property price surge is destined to lose some of its steam this year as cash buyers finish buying property there and move elsewhere in search of better value. Strong demand from family buyers and a continued shortage of relevant homes however will mean that prices will continue to rise, but that value increases in the coming year are likely to be one third lower than those experienced in the bottom feeding frenzy of 2013.
We learn that 2014 is the year that selected other cities with similar supply issues – particularly Cork and Galway – followed Dublin's recovery and are now seeing prices inch up again.
In Cork City where prices were static just six months ago, we learn that investors are now buying apartments by the block in the city centre and that the Leeside capital's better suburbs have experienced a value rise of 9% through the last six months.
Unlike the CSO figures which are a full quarter out of date and which do not take cash buyers into account, and unlike other surveys based on asking prices that bear no reflection on actual prices achieved, How Much Is Your House Worth? 2014 asks estate agents to state the real minimum price achievable today for each and every property type.
In each category type we have asked our experts to value the most average example of each property type to be found in the locality.
So if you live in the better part of your locality, you will need to add value. Similarly if you're based in the less expensive part of your area, you will need to take it away.
Where particular property types, or locations have performed differently to the local average, we have duly noted that difference.
Where there were too few of a particular property type in a location to be relevant, we have omitted that property type.
To use How Much Is Your House Worth? 2014 locate your county, or your postcode if you live in Dublin. Use the table to locate your home type, or the nearest property type to it and then assess the numbers.