Price is right for house hunters

THE country’s first major fire-sale of repossessed properties seems to suggest there is some life left in the property market ... if the price is right.

Almost €14.5 million of repossessed properties were sold over five hours at the packed auction yesterday where bidding occasionally became frenzied — with one successful bid even coming from the street outside.

Over 1,000 people packed into the ballroom of the Shelbourne Hotel in Dublin for the auction of more than 80 repossessed properties which went under the hammer under the eagle eye of auctioneer, Gary Murphy of British estate agency Allsop.