Auctions up, sales down for top five Agencies and AMVs

A record year came to a sticky end, says Edel Morgan.

More houses went to auction in Dublin in 2006 - but there were a record number of withdrawals in the second half of the year. This year 1,498 auctions were held - 202 more than last year. But withdrawals at auction rose by 64 per cent to 728. From mid-September the market was shaken by reports of empty auction rooms and properties failing to attract any bids. Reports of a slowdown began circulating when between 75 and 80 per cent of homes under the hammer in Dublin were being withdrawn due to lack of interest.

The big five agencies - Sherry FitzGerald, Lisney, Gunne Residential, Hamilton Osborne King and Douglas Newman Good - increased their hold on the market to 78 per cent, an increase of 0.84 per cent on last year. For the first time in two years, Lisney pipped Sherry FitzGerald to the post with 349 auctions during 2006 and a 23 per cent share of the market.

Lisney handled an impressive six of the top 15 selling houses, including the sale of the most expensive residential redevelopment site, Gortanore on Brighton Road, Foxrock. The house on 2.8 acres sold for €31 million, 55 per cent over the AMV of €20 million. Lisney also handled 21 Ailesbury Road in Ballsbridge, Dublin 4, which sold after auction for around €12.5 million.

Sherry FitzGerald had 332 auctions and a 22 per cent slice of the market. When its two Dublin franchises - Sherry FitzGerald Blanc and Sherry FitzGerald Lewis Beirne - are included, this figure increases to 23 per cent. It handled the sale of four of the top 15 houses this year, including 17 Ailesbury Road in Ballsbridge, Dublin 4, which fetched region €13 million prior to auction. The agency also handled a number of private sales at the top end of the market. Director Simon Ensor is believed to have put together some of the largest deals, including yet another Ailesbury Road house at €15 million and a property on Herbert Park which made €8 million.

Douglas Newman Good came third again this year with 219 auctions - 17 more than last year - giving it a 15 per cent foothold in the market. It didn't have any houses in the top 15 table. DNG was initially engaged to handle the sale of 67 Ailesbury Road in Ballsbridge but it was snapped up in an off-market deal in January for over €10 million prior to auction before the launch of a sales campaign.

Total HOK Residential auctions amount to 134, giving it 9 per cent of the market and a 1.44 per cent improvement on last year, making it fourth place again on the auction table. The agency was behind the sale of one of the top houses, 13 Merrion Square, Denzille Lane, Dublin 2, which sold under the hammer for €8.1 million. Gunne Residential is up on last year with 109 auctions, compared to 89 in 2005, giving the agency a 7 per cent share of the market. It had no houses in the top 15.

Colliers Jackson-Stops had a total of 28 auctions, giving it a 2 per cent share of the market. It had the ninth best selling house at 10 Raglan Road in Ballsbridge, Dublin 4, which sold for €9.3 million after auction. Of the top 15 houses, only six sold at auction, one sold prior to auction and three sold after auction. There were five private sales.