Tuesday 25 October 2016

Auction fever is set to peak as Minister reveals his 2013 Budget

Donal Buckley

Published 16/11/2012 | 05:00

This year's auction activity looks set to peak on Budget week, the first week of December, when bidders may hear an update on how long they've got to complete the purchase of the residential properties in order to qualify for mortgage interest tax relief.

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That is if they don't already accept that Finance Minister Michael Noonan is adamant that the deadline is the end of the year.

This week the Real Estate Alliance network of agents announced details of the 11 lots which they will offer at their first Munster auction taking place on Budget Day December 5, at the Stand Hotel, Limerick, coincidentally the minister's constituency.

The lots include six residential properties in Limerick, a three-bedroom semi in Cork City and a residential property in Co Galway.

The cheapest of them is a four-bedroom end-of-terrace house, 1 Cathedral Villas, Garryowen Road, Limerick, with a €25,000 guide price.

The most valuable of the houses is 13 Summerstown Road, Wilton, a three-bedroom semi in Cork City's western suburbs with a €150,000 guide price.

Another Limerick house, 2 Stoneymeadows, Woodview, Limerick, near the institute of technology, can accommodate three or four bedrooms and has a €95,000 guide price.

The day before the Budget on December 4, the Allsop Space auction will include 109 lots worth a combined €13.6m and less than half of these are residential.

The most valuable residential property is a four-storey Georgian house at Leinster Road, Rathmines, Dublin 6, which has a €495,000 guide price. Set in a popular Dublin flatland area, it accommodates 12 flats and could appeal to prospective owner occupiers and investors.

The cheapest residential property is a two-bedroom apartment in Castle Cottages, Tullagahan, Co Leitrim, which has a €15,000 guide. The cheapest Dublin home is a two-bedroom Clondalkin flat, 2 The Orchard, Cloverhill Road, Dublin 22, which is guiding €20,000.

Also in Dublin five semi-detached houses at 11A, 15, 17, 19, and 21 Greenhills Road, Walkinstown, Dublin 12 are being sold for between €115,000 and €125,000 each.

In Allsop's last auction in October, four similar houses on the same street, were sold together in one lot for €560,000 or about €140,000 each.

Meanwhile on November 29, just before Budget week, a detached four/five-bedroom family house, known as Temple Mills Lodge, Newtown Road, Celbridge, Co Kildare, will be auctioned by Property Team O'Mahony. It comes with a self-contained one-bedroom apartment and its disclosed reserve is €390,000.

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