Dublin estate agents expect property values to rise by 1.6% in 2020, according to a new Sunday Times Property Price Guide.
This is the least optimistic estate agents have been about house values in the capital since the recession.
The areas of Ranelagh, Milltown and Sandymount are among the top five most expensive to buy a three-bedroom property - while Neilstown and Clondalkin in Dublin 22, and Ballymun in Dublin 11, are the cheapest places.
The report also says Brexit will continue to affect consumer sentiment this year - with estate agents saying it has created a nervousness among buyers.
Predictions for the year ahead vary from 'no change' to price increases of 5% - but the vast majority of estate agents expect properties below €400,000 to perform better than larger family homes.
"Little upward change is expected for homes at the higher end of the market, priced at €750,000 or above", it says.
This outlook follows a year of mixed fortunes for the Dublin property market in 2019, where prices fell for the first time in seven years.
It is now more than three-times more expensive to buy a three-bedroom townhouse in Dublin's most expensive suburbs than in the more affordable ones.
According to the guide, the top five places for the most valuable three-bedroom homes are:
- Ranelagh - €670,000
- Milltown - €657,500
- Ballsbridge/Donnybrook - €645,000
- Portobello - €643,500
- Sandymount - €620,000
The top five places for affordable three-bedroom homes in Dublin are:
- Neilstown - €210,000
- Ballymun - €220,000
- Clondalkin - €230,000
- Killinarden - €230,000
- Darndale - €235,000
Other factors to come into play in 2020 include continued tight lending regulations from the Central Bank.
And as more new homes are built, buyers have greater choice and first-time buyers are availing of the help-to-buy scheme.
The report says this will result in "less demand in the second-hand homes market."
Linda Daly is editor of the Sunday Times Dublin Property Price Guide.
"Perhaps unsurprisingly, Dublin estate agents are taking a cautious view of the year ahead.
"With property prices in the capital falling for the first time in seven years in 2019, many estate agents were reticent about making predictions at all.
"There are a number of factors at play, including mortgage restrictions, new home construction and Brexit - all of which will play a huge part in how prices will look by the end of 2020."