A large period house on an acre in Dalkey has had its price dropped from €6.25 million to €5 million in the hope of attracting new blood.

Fairlawn on Saval Park Road was auctioned last June, just as the market began to slide and it has languished behind its Lisney sign ever since.

In the past this kind of property - with a huge garden and great road frontage - would have been fought over by developers, keen to throw up a row of townhouses, or at least a couple of replica mansions in the grounds.

However, now that builders are finding it harder to get money from the bank unless they provide most of the capital themselves, there have been far fewer of them patrolling the suburbs sizing up lawn sizes.

Buyers with €5-€7 million to spend now have a big choice of homes with good acreage in south Dublin, and it's probably a good time to buy at the discounts that are now being offered.

The property slump is not going to go on forever, and as soon as there is a lift, buyers may be regretting not having moved in time.