Tuesday 21 October 2014

House sales exceed guide prices

It's been a good week for auctions as 13 houses sell around the country, writes Donal Buckley

Published 26/10/2012 | 05:00

75 Mount Merrion Avenue, Blackrock, Co Dublin
AMV €800k, sold for €890k

In the last week, 13 residential properties were sold at five auctions in Dublin and around the country with prices ranging from €25,000 up to €1.87m.

The highest price of €1.87m was achieved yesterday for a 161-acre residential farm at Tobinstown, Tullow Co Carlow with two hosues.

Auctioneers, REA Dawson, had been guiding €8,000 to €10,000 per acre for the property, suggesting that it would sell for around €1.5m. which was below the €12,000 per acre achieved in March this year for a smaller 50-acre residential farm.

Located four miles from Tullow town, the two houses include a traditional four-bedroom farmhouse and a three-bedroom bungalow both of which need upgrading.

In Dublin yesterday a four-bedroom detached Dublin house just down the road from RTE, at 46 Nutley Road sold for €1.6m.

The 198sqm red-brick house stands on 0.46 acres and had a garage as well as plenty of parking. The agents Lisney had been guiding €1.5m.

In comparison earlier in the year, a nearby house at 15 Nutley Road sold at auction for €940,000 which was below its €950,000 AMV.

Also yesterday a four-bedroom detached house Abberley, at 75 Mount Merrion Avenue, Co. Dublin, sold for €890,000.

Located on the Blackrock side of the N11, Lisney had been guiding €800,000 for the 154sqm double-fronted house, which came with a garage offering potential for an attractive extension.

Another family house in Mount Merrion, Co Dublin, sold for 28pc over its guide price on Wednesday. The auctioneers, Lisney had been guiding €925,000 for Vanleigh, 20 Greenfield Road, and sold it for €1.18m, more than a quarter of a million euro over the guide. The five-bedroom detached family house extends to 1,825 sq ft.

Last year a nearby house at 24 Greenfield Road, sold for €645,000, which was almost half the latest price, although No 24 was a smaller four-bedroom semi.

In Clonskeagh, a three-bedroom at 9 Laburnum Road sold at a Lisney auction on Wednesday for €605,000 or €5,000 over its guide price.

The 107sqm semi-detached red-brick had the benefit of a garage and a long 35-metre garden. Its price compares favourably with the auction a few weeks ago of a similar but larger house, 10 Whitebeam Road. That five-bedroom semi of 152sqm sold at auction for €657,500, or 21pc over its disclosed reserve.

In contrast, a much larger south Dublin house failed to sell at auction on Wednesday, even though its AMV was a relatively modest €600,000. The red-brick St Brendan's Firhouse Road, Templeogue, Dublin 16, has six bedrooms and a floor area of 285sqm on a 2.75 acre site.

After an opening bid of €400,000 was made in the auction room, Lisney withdrew it and entered negotiations with prospective buyers at a higher level.

In Co Tipperary, a convent residence on 24.5 acres at New Inn, Cashel, achieved €307,000 when sold in two lots on Wednesday this week.

That was €12,000 over the highest bid for the entire property of €295,000. The 11,000 sq ft building retained many original features, including a church with six stained-glass windows, a bell tower and it had 23 bedrooms as well as a number of other rooms.

Joint auctioneers Brophy Farrell Real Estate Alliance and Stokes & Quirke, sold lot one consisting of the buildings on 1.8 acres, including the gardens for €112,000, which was well below the hoped for target of €200,000 plus. It was bought by a local businessman. The second lot of 22.7 acres sold to a local farmer for €195,000 or €8,950 per acre, which was in line with the guide price of €8,000 to €10,000 per acre.

Six days ago at a bumper auction in Roscommon Town seven of the 17 properties in the catalogue were sold under the hammer and another was sold either before the auction.

The highest price achieved was for a four-bedroom attractively decorated bungalow on 0.5 acres, at Solas Bhride, Cloonsellan, Ballymurray, Co Roscommon, which sold for its €200,000 reserve by auctioneer Ivan Connaughton.

At the same event, a four-bedroom 260sqm bungalow which is almost built, at Killooney, Dunmore, Co Galway, was sold for €102,000 or €22,000 over the reserve set by auctioneer Gerry Coffey.

The purchaser flew all the way from Qatar in the Middle East the day before the auction, and viewed it literally that night.

The cheapest house was Kilmore, Carrick On Shannon, Co Roscommon, a three-bedroom village residence on a half-acre site with a large garden and two outbuildings, close to the River Shannon, which auctioneer DNG Nigel Dineen sold for its €25,000 reserve. The three auctioneers are in negotiations to sell some of the others.

Meanwhile, a second English auction house, Eddisons, has entered the Irish market and will offer 11 lots for sale at its first Irish auction in Dublin on November 15.

Lots include four Dublin city centre apartments, with guide prices ranging from €59,500 to €129,500, as well as a red-brick house at 155 North Circular Road, Dublin 7, with a €220,000 guide price.

There are also two four-bedroom terraced houses at Dun na hInse, 2km from Ennis town centre in Co Clare, which need repair but are priced from only €16,000.

Three of the lots are commercial properties. Eddisons conducts 16 auctions every year in Leeds and Manchester offering stock from the English Midlands through to the Scottish Borders.

Meanwhile, Irish auctioneers Real Estate Alliance plan a bumper auction of Munster properties on November 22 in Limerick and Allsop Space will host its next bumper auction on December 4 in Dublin.

Indo Property

Read More

Editors Choice

Also in Business