Ranelagh, Rathgar, Rathmines, Harolds Cross, Dartry, Palmerston, Milltown

Down 25%

Prices in Dublin 6 fell by almost a third in the past year. In common with other areas, this has been put down to rising interest rates, tightened lending and poor market sentiment. Agents say negative publicity also caused buyers to hold off, for fear of prices falling further.

They also say that purchasers were unsure and indecisive, tempted to buy but at the same time fearful of making the wrong decision. New-builds have fared the worst, with two-bed apartments falling almost 30% from €700,000 to €500,000 over the past 12 months.

Estate agents report some signs of renewed interest from buyers, however, particularly first-timers, due to the recent interest rate cuts and price re-adjustments. The level of activity has improved since last September, as many buyers believe that the market is close to reaching the bottom.

They say that realistically priced homes will often sell within three to four weeks.

Reports suggest that the rental market has softened considerably, due to the increasing number of migrant workers leaving the country, coupled with an over-supply of vacant properties to let. Participating agents are predicting an end to falling prices in the year ahead.

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