ALLSOP SPACE SEPTEMBER 2011 PROPERTY AUCTION RESULTS
So far this year, Allsop Space have held three auctions of Irish property, in April, July and September, with another auction due on November 30th. The sample size of the total properties sold is too small to make any general predictions of the current state of the Irish property market but a few interesting trends emerged.
86% of the properties sold to cash buyers. Over half of the sales were to buy to let purchasers, owner occupiers took 30% and 11% of sales were to developers. The September auction (74 lots) featured fewer distressed sales than than April and July auctions.
In total, 30% of the lots on offer sold for prices greater
than the minimum reserve and most of the buyers (87%)
were based in Ireland.
NAMA recently announced its intention to dispose of 750 residential properties and it will be interesting to see how the prices set for these properties compare to the prices people are actually prepared to pay, as revealed below for the September auction.
The next auction organised by Allsop Space is on the 30th November 2011. The catalogue for the entire collection can be downloaded. Remote bidding, either by proxy through the auctioner, by telephone or the internet is also possible by prior arrangement through the auctioneer.
In addition, the Merlin Property Auction will be on November 22nd 2011 and their catalogue is now released.
Although we will do our best to provide you with accurate details, all information provided is subject to errors and omissions. For the most up to date information, please contact the companies or organisations mentioned above. This summary is based on a recent Irish Times article.
ALLSOP SPACE SEPTEMBER PROPERTY AUCTION RESULTS
Property Type Location Selling Price Investment Flat Dublin 1 €160,000 Leasehold Flat Dublin 4 €130,000 Vacant Flat Howth €183,000 Leasehold Flat Dublin 1 €167,500 Leasehold Flat Dublin 8 €92,000 Investment Flat Dublin 8 €116,000 Investment Freehold Building Rathgar €320,000 Investment Freehold Building Rathgar €459,000 Investment Freehold Dublin 12 €190,000 Vacant Flat Dublin 7 €108,000 Investment Flat Dublin 8 €120,000 Investment Freehold Building Dublin 7 €1,150,000 Leasehold Flat Dublin 1 €121,000 Vacant Flat Dublin 3 €68,000 Investment Freehold Building Rathgar €485,000 Investment Flat Dublin 4 €137,000 Investment Freehold House Dublin 15 €151,000 Investment Flat Dublin 2 €127,500 Investment Flat Dublin 8 €128,000 Investment Flat Monkstown €137,500 Investment Flat Dublin 1 €275,000 Investment Flat Dublin 8 €135,000 Investment Flat Dublin 15 €98,000 Investment Flat Dublin 8 €123,000 Investment Freehold House Blackrock €275,000 Investment Freehold Building Dublin 7 €157,500 Investment Freehold House Blackrock €430,000 Investment Flat Dublin 8 €124,000 Investment Freehold House Dublin 8 €110,000 Investment Freehold House Dublin 15 €127,000 Investment Flat Dublin 15 €104,000 Vacant Flat Galway City €144,000 Vacant Freehold House Clara €72,000 Investment Freehold House Loughrea €127,000 Vacant Leasehold House Renvyle €110,000 Investment Flat Salthill €158,000
Vacant Freehold House Oranmore €80,000 Investment Freehold House Ballinasloe €88,000 Vacant Freehold Building Gorey €120,000 Investment Freehold Building Wexford Town €470,000 Investment Freehold Building Gorey €30,000 Investment Freehold House Gorey €55,000 Investment Freehold House Gorey €70,000 Vacant Freehold House Lackaghmore €164,000 Vacant Freehold House Ballyjamesduff €79,000 Investment Flat Limerick City €88,000 Vacant Freehold House Rooskey €107,500 Vacant Flat Bundoran €42,000 Investment Freehold House Abbeyleix €100,000 Leasehold Flat Limerick €37,000 Investment Freehold House Portumna €58,000 Investment Freehold House Abbeyleix €81,000 Leasehold Flat Cratloe €112,000 Business Kildare €560,000 Land/Site Bullaun €63,000
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