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Highest auction price of year as home in need of repair fetches €2.9m

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See Donal Buckley story today re auction prices - 22.5.13

See Donal Buckley story today re auction prices - 22.5.13

The living room

The living room

The front garden

The front garden

The rear garden

The rear garden

The side garden

The side garden

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See Donal Buckley story today re auction prices - 22.5.13

A house in need of updating has been sold for €2.9m – or €400,000 over its guide price.

The price for Springfield, Sydney Avenue, Blackrock, Co Dublin, is the highest achieved for a house in auction this year.

The previous highest price was set only last week when a Ballsbridge terraced house sold for €2.1m.

Springfield is a five-bedroom period-house standing on 0.7 acres of attractively laid out gardens. It has been in the care of the same family for about 50 years.

Although from the front it appears to be a relatively modest single-storey house, the regency-style villa has two storeys and extends to 2,692sq ft.

The accommodation includes a drawing room, living room, dining room, study, kitchen, utility room, five bedrooms and two bathrooms.

Located between Carysfort Avenue and Mount Merrion Avenue, the house is in the centre of a V-shaped site which adjoins the grounds of Blackrock Lawn Tennis Club.

While a similar €2.9m was achieved for the neighbouring Eagle Lodge on Sydney Avenue last year, that was a much bigger house and had already seen a considerable investment in its decor and fittings to bring it to a walk-in condition.

In contrast, Springfield will need extensive updating and the buyer is expected to maintain it as a family home.

The previous highest price for this year was seen last week when 46 Wellington Road, Dublin 4, sold for €2.1m.

This was €500,000 over its €1.6m guide price and €300,000 over the previous Dublin house auction record for this year.

These two latest record breaking auction sales reflect a healthy demand and relatively low supply of up-market properties – and a willingness of buyers to bid strongly.

Irish Independent