Owner occupiers and investors were out in force at the first auctions of 2015 held by DNG Maxwell Heaslip & Leonard last Friday in the Radisson Blu Hotel. With a range of properties going under the hammer, all eyes were set on how the auction market would perform in 2015. With the agents reporting strong interest in properties in the lead up to the auction, the results on the day proved that buyers, both investors and owner occupiers, remain keen and are very much ‘in the market’ for 2015.
“Value for money and location,” said James Heaslip, auctioneer on the day, were the common factors sought by buyers. “2014 finished with investors making their presence known in the marketplace, and this auction showed this trend is set to continue in 2015,” he added.
Properties in the popular student complex of Gort na Coiribe again proved a winner with Nos 19 and 81 Gort na Coiribe, both part of the pooled rental scheme, and No 157, enjoying periods of intense bidding from multiple individuals eager to avail of astute investment opportunities. Agent Fergal Leonard said: “We sold a number of apartments and houses in the Gort na Coiribe complex before Christmas. The numbers make total sense for investors and proved very popular on the floor with investors eager to avail of the CGT tax exemptions before year end. Friday’s results show that there are still investors ready and able to purchase sound investment opportunities.”
Owner occupiers also featured strongly in the auction with properties in Furbo, Fr Griffin Road, and Foster Park, Salthill, all enjoying intense bidding from a number of bidders eager to secure one of these properties in longstanding, popular areas of the city and county. A detached property, located in Furbo village and in need of renovation, came to the auction floor with a guide price of €235,000. Bidding commenced at €225,000 and moved swiftly through 18 bids to the final sale price of €263,000.
A detached home in Foster Park, Salthill, was another keenly sought after property. Selling agent Alan Maxwell said: “This property generated huge interest during the open viewing sessions in the run up to the auction. Properties such as these rarely come on the market in such a popular and mature residential area just a short stroll from the Prom and within walking distance of the city centre, so we knew interest would be strong.” A swift 11 bids saw the price rise from the opening bid of €240,000 to the hammer falling at a price of €270,000.
A dwelling house on c2.31 acres of land in Culeenduff, Strand Hill, Sligo, was an eagerly anticipated lot on the day with numerous bidders vying for the coveted position of highest bidder. Bidding commenced at €160,000 and continued fiercely with a number of bidders quickly driving the price over its AMV and to the final sale price of €335,000 following a total of 36 bids.
The final lot of the day, No 97 Fr Griffin Road, also proved very popular. “Again, location was the key driver for the success of this property on the auction floor,” said selling agent Alan Maxwell. “Over the four weeks of open viewings in the lead up to the auction, the footfall through the property was immense with buyers recognising the opportunity to acquire what will be a beautiful family home.” With a guide price of €280,000, bidding commenced at €270,000 and 29 bids later auctioneer James Heaslip lowered his gavel at a sale price of €331,000.
A full list of results and sale prices can be found at www.dnggalway.ie
DNG Maxwell Heaslip & Leonard will hold its next auction on Friday April 24.
To include your property in the next auction contact the agents on 091 565261.