Odds favour house auction to beat AMV
The first house to be auctioned in Dublin this year may sell for between 17pc and 33pc above its advised minimum value (AMV) of €1.5m.
Bookie Paddy Power is offering odds of 9/4 that 52 St Kevin's Park, Dartry, Dublin 6, will sell for between €1.75m and €2m which is a range of between 16.6pc and 33.3pc above Lisney's AMV.
In need of modernisation, the 224sqm house offers five bedrooms, three reception rooms, a kitchen, scullery and box room. The double fronted red-brick also benefits from a garage and a long, private back garden.
Paddy Power is offering 3/1 odds that it will sell for between €2m and €2.25m.
Explaining its short odds on such a positive outcome, the bookie's spokesperson said: "There hasn't been a large Dublin auction since December so the demand could be high for this one with the number of auctions now coming about at the lowest level in 50 years."
For the more pessimistic punters odds of 9/2 are on offer for a price of between €1.25m and the AMV while the same odds are available for those willing to gamble that it will sell for more than €2.5m.
The executor sale property goes to auction on March 31.
In relation to the overall housing market the bookie is offering odds of 15/8 that prices nationally will fall by between 9pc and 12pc this year. This is based on the Permanent TSB house price index which some agents claim is slow to reflect the declines which have already been seen in the Dublin market. Odds of 5/2 are available that the PTSB national index will fall by over 15pc.