DAVY VIEW

December 2024 data for residential property prices confirmed a full-year growth rate of 8.5% in 2024, in line with our latest forecast from five months ago. Into 2025, we expect a moderate slowdown in monthly property price increases compared to 2024, in light of gradually increasing supply available for purchase. Fundamentals point to higher prices for housing given continued strength of the economy, significant new and pent-up demand, an expansionary stance for fiscal policy and falling interest rates.