Advised minimum values (AMVs), the new system for estimating the values of homes for sale, have failed to give buyers more accurate indications of how much properties will sell for at auction.

Advised minimum values (AMVs), the new system for estimating the values of homes for sale, have failed to give buyers more accurate indications of how much properties will sell for at auction.

The difference this year between the prices achieved at auctions and AMVs placed on those properties is just as big as it was in 2005 when the old system of guide prices was still in place.

Houses sold at auction in 2006 made an average of 34.5 per cent above their AMVs, according to a Sunday Business Post analysis of auction results in Dublin and Wicklow. Last year auction prices in the same area were on average 34 per cent over their guide price.

Posted: 08|27|06 at 8:19 am. Filed under: Auction News.