Transaction activity remained at a high level in the opening quarter of the year. Lettings dominated activity, while the southwest and northwest regions combined accounted for 72% of total take-up. Overall supply levels in Dublin increased by 4.8% in Q1, with the vacancy rate at 11.5%. However annually, availability fell by 10.1%. Rents rose further in the quarter with the Lisney index for Dublin increasing by 1.8% and by 13.6% in the year.