DNG says two-thirds of properties don’t sell at auction
Published June 25th, 2006
Less than a third of properties offered for auction sell under the hammer, according to new research by estate agents Douglas Newman Good (DNG).
In the last four weeks, 256 properties were auctioned in the Dublin area. However, just 83 of these – 32 per cent – were sold at auction.
The figures compare with the 41 per cent of auction properties sold under the hammer in the same period last year and 39 per cent in 2004. The number of properties for sale at auction that have been withdrawn has also risen sharply. In the last four weeks, more than 53 per cent of properties offered for auction in the Dublin area were withdrawn. In the same period in 2005and 2004, just 40 per cent were withdrawn.
‘‘Overall, recent results in the greater Dublin auction market have not been as good as the same period in 2005or 2004,†said Paul Murgatroyd, economist with DNG.
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