The Republic’s homebuying process is stoking bidding wars and pushing property prices higher, a new study has found. To assess how bidder behaviour changed under different auction processes, the Economic and Social Research Institute (ESRI) conducted a controlled auction experiment involving some 800 participants. It found participants’ bids were pushed higher in open auctions managed by estate agents or online platforms than in sealed bid auctions. Read more on this study in Eoin Burke-Kennedy’s report.
Have you recently bought a house in Ireland, or are you currently in the middle of trying to find a home? Have you found yourself in a bidding war, or seen a price for a house inflate far above the asking price? What aspect of the process have you found the most difficult to navigate? The Irish Times would like to hear your story. You can let us know what you think using the form below. Please limit your submissions to 400 words or less. Please include a phone number for verification purposes only. If you would prefer to remain anonymous, please indicate this in your submission – we will keep your name and contact details confidential.
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