Dun Laoghaire, Blackrock, Sandycove, Monkstown, Stillorgan, Dalkey, Killiney

Down 20%

This is where record-breaking sales were a regular feature during the boom. Trophy homes in Dalkey, Sandycove and Killiney often come with multi-million-euro price tags, so it’s no surprise that many of these properties have had hundreds of thousands, and in some cases more than €1m, knocked off their value over the past 12 months.

For example, a large detached home in its own grounds, which would have sold for €5.3m in January 2008, is now worth €3m. Less expensive homes have also suffered price drops, with the average three-bed semi falling from €650,000 to €530,000 in the last year.

Agents also said that buyers had become more confident about negotiating. Not only were they haggling during the sales process, they were renegotiating at the point of signing the contract. Investors continue to run shy of this affluent Dublin region, making up only 5% of last year’s sales, hardly a surprise with rents falling.

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