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Ten houses sold in under two weeks
A LOCAL auctioneer has achieved what some might term an amazing feat in the severely depressed property market by selling ten houses in under two weeks.
Peter McCreery received widespread publicity when he held a ‘mega auction’, the first of it’s kind in Ireland last Saturday at the Newpark Hotel. Only two out of the17 properties sold at auction but Mr McCreery closed six deals in the days leading up to the auction and two since.
Between 150 and 200 people attended the auction, must of whom were first time buyers living in rented accommodation and looking to get their foot on the property ladder. “There is excellent value for money out there at the moment. On average houses are selling for between 30 to 50% less than they did back at the height of the boom in June 2007. We identified 200 people who expressed an interes in buying properties. In the wekk before the acution we sold three houses which were lots in the auction and three others. One of those was a four-bedroomed house which sold for 205,000 euro. Offers were made on a further eight lots but they failed to meet their guide prices and were withdrawn from the auction.
Another four bedroomed house at Bregagh Place sold in excess of it’s guide price of 200,000 euro with a closing bid of 212,000 euro. In mid 2007 identicial houses in the same estate sold for figures in excess of 300,000 euro. The highest bid was made on a four-bedroom house at Glendine, overlooking Kilkenny Golf Course which went on the market with another auctioneer two years ago with an asking price of €900,000 and sold for 350,000 euro.
Mr McCreery admitted that times were tough in the current climate but added that he was ‘estactic’ to have ten signed and sealed sales. “Our goal is to sell propery by whatever means is necessary. We had six sales before the aucton, two sales under the hammer, two sales immediately after the auction and we are several bidders on other lots. The price had to be very competitive and several lots were refused as I felt that they did not represent value for money.”
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Weather for Kilkenny
Saturday 04 February 2012
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