DAVY VIEW

Population and migration data for the year to April 2026 showed a total of 5.53m, close to our forecast of 5.54m and above official forecasts ranging from 5.44m to 5.52m. Net migration slowed to 48k, although we still expect upward revisions after next year’s Census. Immigration for the key 25-44 age group surprisingly fell by 21%, whereas comparable administrative data grew by 6.6% for the same period. Zooming out, we expect an upward trend for both immigration and emigration to continue, driven by a combination of Ireland’s strong economy and housing challenges.