DAVY VIEW

Irish asking price inflation has moved into negative territory for the first time this cycle, at 2.9% nationally and 2.6% in Dublin. This is consistent with our forecast for a 5% fall through 2020, but we believe ‘double-digit’ declines are less likely. We are cognisant that the small number of new listings in Q2 2020 makes our observation of prices less reliable. The surge in new listings in recent weeks suggests a degree of confidence has returned, and developments through the summer will provide a better guide to price trends.