The DNG House Price Gauge (HPG) recorded a rise in the average value of a resale property in the capital of 3.3% during the first quarter of 2013, in contrast to the decline of –3.7% recorded in the same quarter of 2012 reflecting the improvement seen in the residential property market over the last twelve months (Fig 1.). The average price of a second-hand home in the capital now stands at €262,000 compared to a figure of €258,000 at the end of 2012 and €243,800 at the end of March 2012. It is heartening to see a third consecutive quarter of growth in residential property values but equally the overall average rise of 3.3% in the three months to March hides a multitude of localised submarkets, some of which have not seen an end to falling property values. This current scenario is very typical of a market demonstrating the characteristics associated with ‘ find a floor&rsquo, and anecdotal evidence already makes clear the fact that some sectors and locations will be much slower in recovery than others.