Online bidding war see Newcastle West home sell for €100k over reserve

Donal O'Regan

Reporter:

Donal O'Regan

Email:

donal.oregan@limerickleader.ie

Onine bidding war see Newcastle West home sell for €100k over reserve

AN ONLINE bidding war involving interested parties from Australia, United States and the UK took place for a house in Newcastle West.

However, a local won the day for a 2,900 sq ft detached five bedroom residence in Rathfredagh. It is “in need of some upgrading”. It sold for €100,000 over the reserve of €190,000.

It was auctioneer’s Declan Woulfe first online auction. He didn’t think the property would have achieved the sum of €290,000 due to the current pandemic.

“I did think it would have made circa €300,000 should the online auction have been held in say February prior to lockdown. This clearly shows that there is an appetite from both vendors and purchasers to transact property by way of an online auction platform.

”The amount achieved shows there is still a pent up demand for property in the region,” said Mr Woulfe. Even though the office of DNG Declan Woulfe in Abbeyfeale remains closed he says they are still very busy dealing with phone calls and emails on properties they have listed.