Properties sold at auction 65% below peak prices

Properties sold at auction 65% below peak prices

A new study from the Central Bank has shown that properties sold at auction were, on average, 65% below peak asking prices.

The analysis also shows Dublin properties achieved auction prices closer to market asking prices than properties outside of Dublin, while houses achieved relatively better prices than apartments.

Meanwhile, rental yields achieved on the properties sold at auction are above current market yields and at levels similar to those seen in the mid-1990s.

The report also found that in terms of finance, the majority of sales at the auctions were cash sales.

The study took in 411 residential properties sold at seven Allsop Space auctions for a combined total of €52.6m. 183 (45%) of which were in Dublin. The majority (260) were sold on behalf of a receiver or liquidator.

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