There is general agreement that Dublin house prices have fallen by about 60 per cent since the market peaked in 2006. It may well come as a surprise, therefore, that Ireland’s most expensive home is to be offered for sale again next month at 74 per cent less than it made in 2005.

Joint agents Lisney and Savills have been appointed to handle the sale of Walford, the rambling pile on Shrewsbury Road, Dublin, which made €58 million and has remained unoccupied since then. This time the asking price will be no more than €15 million, and even then it may be difficult to achieve that figure at tender considering that the house is now in need of complete refurbishment.

Anyone bidding for the pile will be aware that earlier this year Derek Quinlan managed to get only about €7 million for his superbly presented home on the same road.

On top of that opposition to the redevelopment of the Walford’s 1.8 acre grounds is likely to be just as strong now as it was when it was bought by Gayle Killilea, wife of developer Sean Dunne.