DAVY VIEW

Overall residential property prices decelerated in February and look set to exceed our Q1 forecast for an annual gain of 6.4%. However, it remains early in the year and our full-year 2026 forecast for an increase of 5.5% is still achievable. The number of new properties purchased by households grew strongly again in February; while still early days, this augurs well for our forecast that new dwelling completions this year will reach 43k.