Property website Daft.ie says asking prices for houses have been slowing, with some sectors of the market showing drops of more than 10% in the last six months.
The site's latest report says asking prices in April were just 2.1% ahead of the same month last year, when price inflation was 13.5%.
It said the upper end of the Dublin market had been hardest hit, with asking prices in Howth and Malahide down more than 10% in the last six months, and prices in Rathmines, Rathgar and Ranelagh dropping 12.6%.
Daft.ie said prices remain 'relatively static' outside Dublin, with asking prices in Limerick and Sligo rising.
Daft.ie director Brian Fallon said interest rate hikes had been the main reason for the slowdown, with prices falling to match affordability. He added that stamp duty uncertainty had mainly hit higher end properties.
Davy economist Rossa White said the figures implied that sellers in the Dublin area became greedier than elsewhere during the first half of last year, but asking prices were quickly pared from unrealistic levels.