Demand and therefore prices surged in Dublin 22 with Paul O'Brien of PP O'Brien Swaine estimating that prices for average homes in the postcode increased by 15pc since last January.
"The year started slowly enough but from March to August it was chaotic, really busy," he says.
He says this kept up right through summer with a mixed bag of first-time buyers, some investors and foreign cash.
However purchases are currently being concluded 70/30 in favour of mortgaged buyers so Central Bank rules which bring in a 20pc deposit as cited, will do serious damage to demand here he says.
|Ex-corporation 2-bed ,||€95,000||€120,000||€126,000|
|"Detached 2,000+ sq ft ",||€320,000||€350,000||€367,500|
"I'm not disagreeing in principle with higher deposits but they should be staggered, say 10% up to €300,000 and a higher amount for bigger mortgages which carry more risk to the bank.
"If you have a couple buying at €250,000 which would get you a decent three-bed in Dublin 22, saving €25,000 is just about feasible.
"They might have €15,000 themselves and get the remainder from mum and dad or the credit union.
"To double that is crazy and unfair at this lower end of the market. Don't get me wrong - they should stress-test out the door, but not this way."
The most prestigious areas are to be found in the older stretches like Monastery Road and Newlands. Meantime O'Brien says the rental market is extremely busy with not enough houses in the right areas.
Buyers continue to enter this market because it remains relatively affordable for family homes compared with other postcodes.
However O'Brien reports that an increasing number of vendors, have lately been holding an "unreasonable view" of their home's value.
There has been a cooling in recent months and so for this year he sees moderate growth.
But he warns that this very much depends on the Central Bank's next move.
He says 20pc deposits will cut buyer numbers in D20 by 20pc straight away.