Market comment - Irish residential property price inflation -0.8% in September

Davy Research
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Irish residential property price inflation at -0.8% was broadly in line with our forecast. The question now is whether we see the usual seasonal price falls during the winter months given that the summer trading season has been delayed and the market has tightened during the second lockdown. If not, the annual inflation rate through 2020 could be positive, above our forecast for -1% inflation in December. The overall message is that Irish house prices are broadly flat, actually lagging inflation in the UK and US.