Reasons for optimism this year

2012 proved to be a turning point for the Irish residential property market after five years of contracting prices, writes Marian Finnegan

“Notably, an analysis of sales in Sherry FitzGerald suggests that Cork City has enjoyed a greater than 40% uplift in transaction activity.”

Hindsight, as we all know is 20:20 vision. So today it is perhaps easy to say that the origins of the now infamous Irish property boom began as early as 21 years ago with the devaluation of the punt during the currency crisis of 1992. The ending of the property boom is also well documented as taking place in mid- to late-2006 when activity began to grind to a halt and prices began to fall.