Limerick auctioneers ‘very worried’ about the low volume of property listings
THE AUCTIONEER for a house in County Limerick which recently sold for €730,00 has said if he had five more he would sell them too.
Mountain View, Rochestown, Grange popped up on the Property Price Register in January. It went on the market last autumn with auctioneer, Joe Wheeler, striking a deal in just three weeks.
The B3 energy-rated 5,600 square feet house has five en-suite bedrooms on the first floor with generous living space on the ground floor. Outside there is a stable block with an apartment overhead, double car-port, garage, and three stud railed paddocks.
Mr Wheeler said there was “strong interest” and, in particular, from those with an equestrian background.
“It was just the right distance from town for a lot of people. They are in the country but less than 10 minutes from town. It was built to a very high standard back in 2006. It was a family member from the original builders that sold it,” said Mr Wheeler, when contacted by the Limerick Leader. He would not be drawn on the new owners. All he would say is they are first-time buyers.
“There were five interested parties. It was keenly contested. All the parties had an interest in the paddocks and stables. We have two very disappointed underbidders. We would love to find something comparable for them,” said Mr Wheeler.
The problem is they are not there.
“There is a heap of people who would like to buy within the environs of the city but they are just not there. Good quality detached housing is very scarce,” said Mr Wheeler, who raised his concerns in this regard a year ago in the Leader.
“Auctioneers are very worried about the volume of listings this year. The stuff isn’t there. If I had five Mountain Views I’d sell them,” he said.
Regarding the price of €730,000, Mr Wheeler said the house is over 5,000 square feet.
“In relative terms it was still actually good value because the replacement of this house would be around €1.2m,” concluded Mr Wheeler.