PROPERTIES in Limerick sold for over €17.5m last month, according to the latest filings with the Property Price Register.
In all, some 147 homes in Limerick city and county sold in September, details of which are listed below. To date this year more than 1,300 homes have sold in Limerick, making it the most buoyant year for sales in the past half a decade.
However, with a lack of supply, property prices will not return to their pre-bust levels for some time, say local auctioneers, and the recent figures are a continuing testament to that.
Just four properties last month sold for in excess of €400,000. They were: Pio Ville on the North Circular Road sold for €485,000, Marillac on O’Connell Avenue in the city sold for €455,000, Clorane in Manister in Croom sold for €445,000, and a home in Clonmacken, Caherdavin, sold for €417,000.
No property sold last month for over €500,000, and just 25 properties in Limerick are currently listed for sale with price-tags in excess of half a million euros.
“It’s a very solid market at the moment,” said Des O’Malley, of Sherry Fitzgerald, “but at least 300 new homes are needed across the city alone, in all areas, but there’s no chance of that being provided. We might get 50 to 70 new houses [being built next year] in the city,” he told the Leader.
At the Munster Property Auction in Rochestown Park Hotel in Cork last weekend, a number of Limerick properties went under the hammer.
A two-bedroom, fifth floor apartment in The Steeples, Mulgrave Street, sold for €50,500, some 10% above the starting bid.
Number 102 Hyde Road, in partnership with Rooney Auctioneers, sold for €23,000 to a phone bidder. The final lot of the night was a commercial property, with overhead accommodation, on Lord Edward Street, in Kilmallock, which sold for €40,000.
The Munster Property Auction are now welcoming entries for their 45 day online auctions and upcoming public auction on December 3.
In the city, some 162 people registered for the auction at the Strand Hotel for the REA Munster auction on Thursday last.
Of the 21 lots that went for sale, 16 of them sold at auction, two have been agreed since the auction, two are presently under offer and the final lot is to be placed back on the market by private treaty.
Their next auction is to be held on November 12 at the Strand Hotel and they estimate to have circa 30 properties throughout Munster on offer.