Impact of Macroeconomic Factors on Newly Built Residential Property Prices in Dublin

Bana, Yugandhar Reddy (2024) Impact of Macroeconomic Factors on Newly Built Residential Property Prices in Dublin. Masters thesis, Dublin, National College of Ireland.

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Abstract

Dublin’s residential property market has come under increasing strain from rising interest rates and limited housing supply. Yet, the combined influence of macroeconomic and geospatial factors on property prices remains insufficiently understood. To address this gap, comprehensive data from the Property Services Regulatory Authority (2019–2023), integrated interest rate trends, and new construction activity into predictive models. Comparison of Random Forest, Decision Tree, XGBoost, LightGBM, and Gradient Boosting Regressor models revealed that the Random Forest Regressor delivered an 88% prediction accuracy, outperforming all other approaches and effectively capturing the complex interactions among economic and spatial variables. These results reinforce existing research on the pronounced impact of interest rates on affordability while offering fresh insights into how evolving regional supply-demand dynamics shape Dublin’s housing landscape. These findings can guide policymakers and real estate professionals in crafting data-driven strategies to promote market stability and inform development decisions. Nevertheless, factors such as neighborhood-specific attributes and emerging economic disruptors lie beyond the current scope, highlighting opportunities for future research to refine forecasting and enhance policy interventions.

Item Type:	Thesis (Masters)
Supervisors:	Name Email Milosavljevic, Vladimir UNSPECIFIED
Uncontrolled Keywords:	Dublin Housing Market; Residential Property Prices; Macroeconomic factors; Interest Rates; New Housing Construction; PRSA; Geospatial Data
Subjects:	Q Science > QA Mathematics > Electronic computers. Computer science T Technology > T Technology (General) > Information Technology > Electronic computers. Computer science D History General and Old World > DA Great Britain > Ireland > Dublin H Social Sciences > HD Industries. Land use. Labor > Housing Q Science > Q Science (General) > Self-organizing systems. Conscious automata > Machine learning
Divisions:	School of Computing > Master of Science in Data Analytics
Depositing User:	Ciara O'Brien
Date Deposited:	01 Sep 2025 14:33
Last Modified:	01 Sep 2025 14:33
URI:	https://norma.ncirl.ie/id/eprint/8676

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