DAVY VIEW

The Residential Property Price Index (RPPI) for December showed that inflation slowed to 0.9%, slightly below our forecast of 1%. We believe this is close to the trough for RPPI inflation and we expect a 2% rate in 2020. Once again, Dublin lagged behind, with prices down 0.9% on the year, whereas prices were up 2.8% in the rest of Ireland.