Allsops have held a few big public property auctions in Dublin - the next one is due on May 3rd 2012
These public auction sales are totally transparent and have established a valuable register of transactional evidence.
The auctions have been attended by about 2000 potential buyers (probably a few onlokkers too) .
a huge boost of confidence.
Bidders can now see that others share their willingness to buy. No longer are offers submitted in an uncomfortable vacuum. In addition, the regular sale of income producing residential investment properties (RIPs) has established a pattern of investment yields for different property types in different locations. Investors can now benchmark the performance of properties against each other and against other asset classes.
Properties in all 26 counties of the Republic have now been sold under the hammer at the firm’s auctions.
A broad mix of property types has been sold at auction.To date the majority of lots offered have been residential and have included houses, apartments and blocks located across Dublin and the regions.
Almost half of the properties at auction were tenanted income producing investments.
Despite the downturn, the appetite for sensibly priced property amongst Irish people is undiminished.
Of over 217 registered remote bidders, only 56 were successful. Most were outbid by the Irish at home.
The competitive bidding generated between domestic and foreign bidders has contributed greatly to the
strong sale prices returned at auction.