Tight supply saw prices in Dublin 20 rise again this year by nearly a fifth. In the last twelve months values rose 18pc having already surged by 20pc in the previous year.
The rapid growth since the crash also reflects the high number of family homes which seem affordable when compared with other locations in the capital.
Old Palmerstown, where prices are much higher, is somewhat removed from the rest given its immense popularity and even between estates there can be significant price differences.
Families are trading up into this area, while higher-priced homes are not being released by empty-nesters who are finding it more difficult to get proportionate value for money at the lower end.
There is even more room for price growth in D20 says Berkeley, but it hinges on whether or not the Central Bank implements rules regarding deposits - currently proposed at 20pc.
"Whether phased or otherwise, if it goes ahead it will completely stagnate the market.
With cash sales drying up from 2013 onwards, purchases are now becoming more reliant on mortgages to buy and the introduction of such measures will definitely reduce purchasing ability."
He reckons the number of bidders will be down, so demand for 2015 is already at a different level and is unwilling to predict any growth at all for the coming year until the details of this proposed measure are clarified.
"The market will level off if it goes ahead."
This would also fuel an already overheated rental market: potential first-time buyers would postpone their purchasing decision as they start saving again to meet whatever deposit requirements come into play, forcing them to rent in a market of extremely short supply, coupled with sharply rising rents.
Separately, he has found banks heavily reliant on surveys prior to lending. "Anything minor has to be investigated; hairline fractures etc, and while this is important, banks can often appear less forthcoming if work is required on a property they are selling."