Properties fetching guide prices and above admits Limerick auctioneer

AS chair of the Limerick Show showjumping committee, Bill Hanly normally spends his August showing horses but this year it has been spent showing houses, as per the guidelines.

“I would say it straight out – on March 20 when we were told to go home and not come back until things improved no one knew what was going to happen,” said Mr Hanly, of Hanly Donnellan Auctioneers.

But, in the last two months he has sold a number of properties in the city or county. They all hit the guide price or went in excess of it, the Leader understands.

In the city, a four bedroom three storey abode at Wellington Terrace, O’Connell Avenue – in need of a lot of modernisation – went for around €250,000.

Over the road – Saint Alphonsus Villas, South Circular Road made in the region of €285,000. The four bedroom end of terrace attracted “substantial interest” said Mr Hanly. Both have been bought as family homes.

Back on O’Connell Avenue, Crescent Villas – five apartments in the building – was bought by investors for over €400,000, the Leader has learned. In the same neck of the woods, Clontarf Place – made up of four one bedroom apartments – went for €275,000.

“In the last two months there has been considerable interest in properties in or around the city centre with very good locations. It is not only city properties, it is in the country as well. There is substantial interest in property at the moment. We have sold three houses in the Pallasgreen area. People like to live in the countryside with easy access to Limerick city. It isn’t just city houses that are selling,” said Mr Hanly.

One of those houses in Pallasgreen – an attractive four bedroom dormer bungalow – sold for around the €290,000 mark. Mr Hanly says there are a number of reasons for the strength of the market.

“There is a substantial shortage of houses. Prices of houses in Limerick have certainly not fallen since Covid. Limerick has a huge amount of employment and industry. Years ago we might have had only one huge employer,” said Mr Hanly.

He cites the working from home phenomenon and people being able to move from Dublin; the cost of houses in Limerick compared to the capital; people moving to Limerick and a trend towards renting rather than buying.