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Allsop Auction

  • 07-07-2011 10:42am
    #1
    Registered Users Posts: 9,555 ✭✭✭


    First few results.




    1 Vacant flat Dublin Res 142k Sold 148k

    2 Investment flat Blackrock Res 202k Sold 270k

    3 Investment freehold building Clondalkin Res 120k Sold 139k

    4 Investment freehold house Stepaside Res 102.5k Sold 146k

    5 Investment flat Dublin Res 175 Sold 177

    6 Vacant freehold house Castlebar Res 42 Sold 87

    7 Vacant leasehold house Dublin 3 Res 62 Sold 67

    8 Investment flat Dublin 1 Res 142 Sold 145

    9 Investment freehold building Bray Res 150




    http://www.realbid.co.uk/realbidIrish/gallery.asp


«1345

Comments

  • Registered Users Posts: 3,308 ✭✭✭quozl


    They're really making GMAC look more and more incompetent.


  • Registered Users Posts: 9,555 ✭✭✭antiskeptic


    Or less and less able to accurately describe the nature of their auction (ordinary wishful thinking householders and not distressed properties)

    Prices seem to be settling around the reserve figures


  • Registered Users Posts: 3,308 ✭✭✭quozl


    18% above reserve after first 19 lots, courtesy of NamaWinelake.


  • Closed Accounts Posts: 6,131 ✭✭✭subway


    Lot. Location Result
    1 465 Castleforbes Square, Upper Mayor Street, Dublin 1 €148,000
    2 Apartment 1,, House 1, Linden Square, Grove Avenue, Co. Dublin, Blackrock €270,000
    3 Unit 6, Bawnogue Shopping Centre, Bawnogue Road, Dublin 22, Clondalkin €139,000
    4 2 Stepaside Villas, Co. Dublin, Stepaside €146,000
    5 Apartment 92B, Smithfield Market, Dublin 7 €177,000
    6 27 Knockthomas, Co. Mayo, Castlebar €87,000
    7 5 Hibernian Avenue, Dublin 3 €67,000
    8 396 Castleforbes Square, Block H, Upper Mayor Street, Dublin 1 €145,000
    9 3 Killarney Park, Co. Wicklow, Bray €220,000
    10 249 Upper Kilmacud Road, Co. Dublin, Stillorgan €280,000
    11 13 The Boulevard, Dublin 15, Tyrrelstown €129,000
    12 4A St Fintans Villas, Co. Dublin, Blackrock €66,000
    13 1 The Bridge, Co. Kilkenny, Thomastown €50,000
    14 Newtown Manor, New Orchard, Co. Kilkenny, Kilkenny City €440,000
    15 Apartment 20,, House 1, Linden Square, Grove Avenue, Co. Dublin, Blackrock €285,000
    16 4 St Canice's Park, Glasnevin, Dublin 9 €55,000
    17 9 Trinity Street, Co. Louth, Drogheda Available
    18 Apartment 10 Townsville, St Marys Road, Co. Wicklow, Arklow €71,000
    19 434 Castleforbes Square, Block J, Upper Mayor Street, Dublin 1 €132,000
    20 35 Ailesbury Road, Dublin 4 €2,325,000
    21 Unit 3 Windmill Lodge, Windmill Road, Crumlin, Dublin 12 €54,000
    22 Unit 1 Windmill Lodge, Windmill Road, Crumlin, Dublin 12 €73,000
    23 1 The Green, Clover Meadows, Belmont Road, Co. Waterford, Ferrybank €95,000


  • Hosted Moderators Posts: 10,661 ✭✭✭✭John Mason


    WOW that Blackberry Glade went for 149,000 the reserve was 122,000 :eek:


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  • Registered Users Posts: 9,555 ✭✭✭antiskeptic


    Pretty property in Cork went for over twice it's 270 reserve. Someone will be pleased!


  • Registered Users Posts: 17,324 ✭✭✭✭Cathmandooo


    €325k for Lot66, the unfinished house in Dalkey, I thought it would go for a lot more, the views are fab, I want a roof garden with those views!


  • Closed Accounts Posts: 427 ✭✭scotty_irish


    is there anywhere online i can follow this auction?


  • Registered Users Posts: 17,324 ✭✭✭✭Cathmandooo


    is there anywhere online i can follow this auction?

    There's a link in the first post

    http://www.realbid.co.uk/realbidIrish/gallery.asp


  • Closed Accounts Posts: 15,116 ✭✭✭✭RasTa




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  • Registered Users Posts: 6,001 ✭✭✭handlemaster


    Prices still seem to be high. Anyone been looking at this ?


  • Registered Users Posts: 3,308 ✭✭✭quozl


    I'd guess the people in the other Allsop thread a few below yours have been ;)


  • Registered Users Posts: 6,001 ✭✭✭handlemaster


    quozl wrote: »
    I'd guess the people in the other Allsop thread a few below yours have been ;)

    only just noticed it after I posted


  • Registered Users Posts: 1,125 ✭✭✭heybaby


    One and two bed flats in dublin city centre trading for a third of what they were 5 years ago, established dwellings in southern Dublin city burbs down substantially too but i feel there is still further scope for prices to fall another 30 % over the coming 36 months. I predict one bed apt in dublin city centre will reach its bottom price at around 60 -70 k.


  • Closed Accounts Posts: 15,116 ✭✭✭✭RasTa




  • Registered Users Posts: 9,555 ✭✭✭antiskeptic


    RasTa wrote: »

    Given that a not-too-dissimilar property on Villiers Rd. in Rathgar went for 450k (albeit divided into units) I'd be thinking the same thing. It's not that Iona Rd is in the middle of a leafy suburb..


  • Registered Users Posts: 162 ✭✭Penguino


    RasTa wrote: »

    Mad price alright.

    Some of the apts in Castleforbes Sq went for reasonable prices with close to 10% yields. The 2 beds went for on average 10% less than they did in the first Allsop auction but the 1 beds went up in price. Difficult to understand


  • Closed Accounts Posts: 44 vanjaqwq


    I can't believe that house went for that price. They are selling in EA's for less on that road. Somebody really must have wanted it. I want to buy in the D9 area at some point and really would have liked to have seen a benchmark in the area but I don't think that really tells me anything. The house just isn't worth that type of money.


  • Moderators, Society & Culture Moderators Posts: 32,278 Mod ✭✭✭✭The_Conductor


    Threads merged.

    Shane


  • Registered Users Posts: 2,284 ✭✭✭wyndham


    The 5 bed in Stillorgan only barely made reserve @ €280,000. Seems like value?

    http://www.auction.co.uk/irish/LotDetails.asp?A=738&MP=24&ID=738000010&S=L&O=A


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  • Registered Users Posts: 3,646 ✭✭✭washman3


    heybaby wrote: »
    One and two bed flats in dublin city centre trading for a third of what they were 5 years ago, established dwellings in southern Dublin city burbs down substantially too but i feel there is still further scope for prices to fall another 30 % over the coming 36 months. I predict one bed apt in dublin city centre will reach its bottom price at around 60 -70 k.


    agree with you.!
    but i predict the 1 bed apts will be bought for 50k max.
    (you talking about good quality or a "shoebox" by the way)


  • Moderators, Society & Culture Moderators Posts: 32,278 Mod ✭✭✭✭The_Conductor


    wyndham wrote: »
    The 5 bed in Stillorgan only barely made reserve @ €280,000. Seems like value?

    http://www.auction.co.uk/irish/LotDetails.asp?A=738&MP=24&ID=738000010&S=L&O=A

    Depends on what you use as a measure of value. The internationally accepted measure of value- is a multiple of its gross potential monthly rental income. A property in a major urban conurbation (of which contrary to what people might like to think, Dublin is our only one) would normally have a factor of 95-100 assigned to it. A provincial town would have a factor of 90-95 assigned to it, and a rural location a factor of 80-85 assigned to it.....

    So- if its a reasonable assumption that this property could rent for 2k a month(?) then it would have a value of 190-200k which would mean the buyer paid about 80k over the odds.

    The fact that its Stillorgan is wholly irrelevant- the reason it fetched 280k is because people are still willing to attach an irrational monetary value on property in particular areas- values that have no grounding in any reasonable measure of value in current use globally......

    Note- using accepted measures of value, the Economist reckons our property is still ~50% over valued.........

    We've had another .25% interest rate rise today- bringing rates to 1.5% and 'normalisation' of interest rates implies an additional 3% ontop of this.

    Even if the country wasn't buggered- the cost of money alone would imply prices have only one way to go- South, and given the state of the economy- its only surprising that prices are only falling 1.1-1.5% month on month, and not a good deal faster.


  • Registered Users Posts: 436 ✭✭Spiritofthekop


    wyndham wrote: »
    The 5 bed in Stillorgan only barely made reserve @ €280,000. Seems like value?

    http://www.auction.co.uk/irish/LotDetails.asp?A=738&MP=24&ID=738000010&S=L&O=A

    I had a look at it last week, its very big inside. Its good value for 280,000 for sure. I thought it would of sold for much more.

    No sun in back yard/garden...but spend some money on fixing it up and its a great house.

    excellent loaction.


  • Registered Users Posts: 3,646 ✭✭✭washman3


    smccarrick wrote: »

    Note- using accepted measures of value, the Economist reckons our property is still ~50% over valued.........

    We've had another .25% interest rate rise today- bringing rates to 1.5% and 'normalisation' of interest rates implies an additional 3% ontop of this.

    Even if the country wasn't buggered- the cost of money alone would imply prices have only one way to go- South, and given the state of the economy- its only surprising that prices are only falling 1.1-1.5% month on month, and not a good deal faster.

    sounds like you know your stuff.!
    was mentioned this evening that interest rates might go to 3.5 to 4%
    would you agree?
    do you think prices will drop another 20-30%


  • Closed Accounts Posts: 645 ✭✭✭chicken fingers


    Most likely 30% or 40% more to go on average.
    It really depends on how the country's economy holds up.
    The gov also need to step up and cut RA by 30% as this is keeping an artificial floor on the entire market.
    The buy to let crowd who are renting to rent allowance tenants will have to lose their homes, it will be hard but the market MUST normalise and adjust and that is just impossible as it stands.
    When rents go down, then we will see some actual value in firesales.


  • Closed Accounts Posts: 182 ✭✭missmyler


    Anyone know why the handling of these auctions went to a UK company and not an Irish one when they first started off?


  • Moderators, Society & Culture Moderators Posts: 32,278 Mod ✭✭✭✭The_Conductor


    missmyler wrote: »
    Anyone know why the handling of these auctions went to a UK company and not an Irish one when they first started off?

    The auctions weren't given to Allsop (or anyone else)- Allsop are a private entity who decided of their own accord to hold auctions, advertised such seeking customers, and on the basis of their perceived expertise, were allocated property by various lenders (Start etc)- and now on the basis of the success of their first auction, are perceived by those disposing of property as the route to go, if they actually want to sell. Having hard rules regarding minimum asking prices etc, which sellers have to subscribe to- helps to ensure the success of the auction- and in turn has created a success story.


  • Moderators, Society & Culture Moderators Posts: 32,278 Mod ✭✭✭✭The_Conductor


    washman3 wrote: »
    sounds like you know your stuff.!
    was mentioned this evening that interest rates might go to 3.5 to 4%
    would you agree?
    do you think prices will drop another 20-30%

    The ECB (Wim Duisberg) have publicly stated that 'normalisation of interest rates implies a rate of 4 to 4.5%'
    Whether or not the peak at these levels- or how long it takes them to reach these levels, is a bit like asking how long is a piece of string. It all depends on external factors- while the primary concern of the ECB is to fight inflation- they have shown themselves to be moderately open to political pressure/interference......

    Do I think Irish prices will drop another 20-30%, sure I do. However bad things are now- things are only going to get a whole lot worse- there is another 4.5 billion to be siphoned off by the government in December's budget, and by their own admission most of the low lying fruit has already been picked. We are in for a torrid time- we ain't seen nothing yet, as the song goes. So- severely limited lending, on top of a contracting economy, and unemployment rates that look to stay stubbornly at 13-14%- well, its not rocket science.....


  • Registered Users Posts: 878 ✭✭✭Bicky


    Anyone any idea what the Dublin 1 pub was withdrawn at? Lot 36.


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  • Registered Users Posts: 30 Mr. 2


    Bicky wrote: »
    Anyone any idea what the Dublin 1 pub was withdrawn at? Lot 36.

    The bidding reached 10k under the reserve so I'm sure they did a deal after the auction.


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