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Cork Independent

Home & Property

Record quarter for auctions

Wednesday, 14th October, 2020 2:32pm

Despite the disruption to the market during lockdown, July, August and September proved to be some of the busiest months for property sales in recent years.

That’s according to IAM Sold Property Auctions, who run the Munster, Connacht, Leinster and Northern Ireland Property Auctions.

IAM Sold said its online auctions have experienced continued success throughout the past few months and has proven a great option during this unusual year.

Patrick Convey, Director for IAM Sold, said: “We have experienced extremely high demand on the majority of our auction lots throughout the last quarter, and indeed into the first weeks of October. Due to restrictions this year we moved all scheduled public auctions to our online auction platform which has worked out very well for us. Bidding and results have been particularly strong since we recommenced viewings in June and I think we have all been a bit surprised at the level of demand since then.”

Mr Convey added: “With the low supply and the strong demand levels we are currently experiencing, now is a great time to market properties. For vendors considering selling we have thousands of registered applicants looking to purchase through our online auction which is the one of the fastest routes to buy and sell property.”

During a recent auction of Munster properties, an excellent investment property was offered for sale in Limerick city with a starting bids price of €60,000. This three-bedroom duplex was offered in partnership with Rooney Auctioneers sold for €90,000.

While in Faha, Kerry a traditional three-bedroom dwelling on the foothills of the Mount Brandon Range was sold after 65 bids for €201,000.

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