End of season sales may tempt buyers

Some family homes that failed to sell at auction have had their guides reduced. Orna Mulcahy, Property Editor, reports

The market may be entering its seasonal lull but estate agents are still busy wrapping up sales of properties that didn't find buyers at auction earlier in the year.

For a while in late September and early October there were so many withdrawals from auction there was talk of a serious oversupply of family homes but, in fact, this has corrected itself in recent weeks with sales now agreed on many houses that failed to sell at auction, often at prices over the initial withdrawal price.

Still, a number of properties remain and some have had their prices reduced to encourage a quick sale. One such house is 11 Iona Road, a terraced four-bedroom redbrick house that failed to sell at auction last June and is now for sale through Lisney at €850,000. The pre-auction guide for the four-bedroom refurbished house was €900,000 but Lisney's Darren Chambers believes the new asking price will create fresh interest in the Strain-built three-storey house which is in walk-in order.

Meanwhile in Monkstown, Sherry FitzGerald is now seeking €100,000 less for Welland Lodge, an interesting three-bedroom detached bungalow on Monkstown Road that was withdrawn from auction last month asking €1.2 million. Hidden behind a high wall, it's a good-sized 1960s-built house with around 170 sq m (1,830 sq ft) and a garage and, given that a two-bedroom terraced mews house further along Monkstown Road sold last week for €700,000, needing total refurbishment, Welland Lodge is beginning to look like relatively good value.

In Foxrock, a large five-bedroom semi at 6 Brighton Hall is on the market at €1.45 million, down €50,000 from the €1.5 million asking price after it failed to sell at auction in September.