‘Vibrant’ bidding recorded for lower-priced properties around the county

More than €6.5 million worth of property was sold under the hammer by Galway-based auctioneers O’Donnellan & Joyce at the weekend.

Forty properties were sold at the auction, with a number more being sold immediately afterwards following negotiations.

The highlight of the all-day auction was a three-bed bungalow in Renmore, which sold for €300,000 – €100,000 over the Advised Minimum Value set prior to the auction.

Auctioneer Colm O’Donnellan said there were more than 500 people in attendance at the auction and he had not seen such a level of bidding on properties at the lower end of the market.

“I’ve never seen such vibrant bidding, particularly for the lower-priced properties. Not all were sold, but a number have been sold subsequently.

“In the afternoon, it was particularly Galway City properties which were being sold and there was huge interest in those in established areas like Renmore.

“A property there had an AMV of €200,000 and sold for well in excess of that, which was probably the highlight of the day,” said Mr O’Donnellan.

In all, there were sixty properties in the catalogue – from as far north as Donegal, down to Sligo, Mayo, Roscommon, Galway, the midwest and as far south as Dingle in Co Kerry.

“A full auction room from 10am saw the most competitive bidding amongst the lower priced property categories from €70,000 to €300,000, with an abundance of families and investors evident.

“Bidders were fewer, yet very competitive above this price bracket, with huge interest in family homes in some of Galway’s most sought after addresses of Salthill, Knocknacarra and the ever popular College Road just off Eyre Square, where exclusive homes are often described as homes for life,” said Mr O’Donnellan.

A unique city centre three-bed bungalow – with a mature garden and allotment – overlooking Lough Atalia within minutes’ walk of Eyre Square. This unique property at 106 College Road sold for €245,000 after very competitive bidding. The AMV was €200,000.

A family home close to NUI Galway, a five-bed detached home at 14 Dún Daingean in Newcastle sold for €380,000, €5,000 over its AMV.

In Knocknacarra, a five-bed detached home in Clybaun Heights sold for €352,000, well in excess of its €300,000 AMV.