DAVY VIEW

Yesterday’s Residential Property Price Index (RPPI) for June rose by 0.6%, the first gain since December after five consecutive months of decline. Prices rose by 0.3% in Dublin, breaking a chain of eight monthly price falls. The out-turn suggests that 2023 will be a year of two halves. The tight housing market and resilient demand look set to drive modest price gains in H2 after the period of correction in stretched valuations has played out in H1.