Three-bedroom houses offer the best value on a price per square foot basis according to research carried out by Sherry FitzGerald, while one-bedroom apartments are the most expensive commodity in town. The agency's economist, Marian Finnegan, has monitored price trends over the past two years during which the price of one-bedroom properties has shot up to an average £293 a sq. ft.

The three-bed semis by comparison are working out at £215, while the average price of four-bedroom houses equates to £224 a sq. ft. It is down to demographics according to Ms Finnegan, who points out that with more young buyers in the market, the heaviest demand is for smaller units, such as one and two-bed apartments. Location, of course, plays its part. Properties in prime residential locations such as Dublin 4 commanded an average price of £304 a sq ft, significantly ahead of the average for Dublin county which stood at £244 a sq. ft.