Despite dramatically rising property prices in the capital, it seems the top end of the market isn’t consistently recording quite the same advances. Lately, the Block has noticed a number of properties in the million-plus bracket selling below their asking price.

Take Beechmount at 81 Mount Merrion Avenue in Blackrock. It had been on the market for €1.925 million with Savills but according to the Property Price Register sold for €1.47 million on August 26th, €455,000 less than the asking.

Elsewhere the examples are less extreme, but still coming up short. Take 20 Rostrevor Road in Rathgar, which had been for sale at €1.55 million with Sherry FitzGerald and finally sold for €1.475 million. Polvellan, 15 The Rise Malahide and Huka Lodge, 100a Lower Churchtown Road had been on asking €1.25 million each, and last month sold for €1.225 million each. According to auctioneer Vincent Finnegan the higher end of the market represents some of the better value: “They haven’t corrected themselves in terms of value to the same extent that your average two- to five-bed house has.

“The recession knocked a lot of high-end performers out of the market.”