Disapointing auction in Limerick

This house went on auction today with a guide price of €260k. Hopes were obviously high with the auctioneer as a nearby house sold fairly recently for over €300k. It sold today for €187k, a 28% drop on the guide. Apparently there was very little turn-out.

Hardly disappointing for the buyer though when compared to the other recent sale. I suspect that outside of Dublin the slide is going to accelerate if this is anything to go by.

While there doesnt seem to be any photographs available so its hard to make any real judgement, that looks like it could be the first decently valued Irish property that Ive seen in years

In fairness Limerick remained a good bit saner than the rest of the country for a good while. When I lived there in 2004, 225k would get you a 4 bed semi in Raheen.

Well the house wouldn’t be in the best condition as it is being sold due to the death of it’s elderly owner. Nothing wrong with it, but would need redecorating - unless your tastes ran to those of an 80yo lady’s. But it’s in a really good area. My parents live 5 doors down and apparently the sale is sending out shockwaves throughout the neighbourhood. It really was expected to go for over €300k.

My parents are pretty happy about it though, because they couldn’t careless what their house is worth. And are hoping prices crash so my brothers won’t have to mortgage their souls to buy a house in a few years time.