Just 17 per cent of properties that went to auction in the Greater Dublin area during the second half of this year were sold under the hammer, new figures reveal.

Just 17 per cent of properties that went to auction in the Greater Dublin area during the second half of this year were sold under the hammer, new figures reveal.

The statistics reflect the sharp slowdown in the market during the autumn season as a result of rising interest rates and speculation over stamp duty.

According to estate agent Douglas Newman Good, there were 1,498 auctions in Dublin this year, compared to 1,297 during 2005.The full year figures show that 31.5 per cent of properties were sold, compared to 43 per cent last year.

Fifty per cent were withdrawn, compared to 35 per cent in 2005. However, when the figures for the second half of the year are analysed, a significantly bleaker picture emerges.

Posted: 12|3|06 at 11:02 am. Filed under: Auction News.