Housing market activity recovers from january trough

Dublin Residential Property Transactions (SA)

Activity levels in the Dublin residential property market bounced back in March 2023, following a weak start to the year. Over 2,100 property transactions (SA) took place in March as the market regained momentum (+31.4% MoM). This followed a trough in January - the deepest since the pandemic - where just 1,266 transactions (SA) were recorded. A similar trend was seen nationally where low activity levels in January and February were followed by a recovery in March. The outlook for the market remains uncertain with falling house prices counterbalanced by rising interest rates which are hampering prospective buyers' affordability.