DAVY VIEW

A monthly decline in Dublin residential property prices for March is likely to capture much-increased uncertainty. However, prices outside Dublin accelerated, and revisions are always a possibility for the most recent monthly data. Furthermore, fundamentals for high demand remain broadly intact whereas the flow of new supply is very far short of meeting pent-up and new demand. We are therefore not inclined to adjust our full-year forecast for price increases of 7%, which mainly reflect rapid growth in the second half of 2024, which saw full-year prices increase by 8.5%.