Frantic bidding at all-day auction

Over €9m of property changed hands yesterday at the first ever all-day auction outside of Dublin.

A total of 46 properties were up for sale at the auction conducted in Galway city by local estate agents, O’Donnellan and Joyce.

Judging from the prices achieved, the recovery in Ireland’s property market is well under way.

A block of three apartments at Sea Road, close to the city centre, attracted huge interest among the overflow attendance at a Galway hotel.

With an AMV of €120,000, the apartments were eventually sold for a whopping €310, 000.

An industrial unit at Breaffy Road, Castlebar which had an AMV of €230,000 went under the hammer at €470,000.

Twenty acres of land at Ballyconneely, near Clifden, went for €146,000, despite an AMV of just €50,000.

A bidding war developed for a two-bed apartment at Dun na Carraige in Blackrock, overlooking Galway Bay. Two overseas bidders competed with phone bids until it was sold for €492,000. The AMV was €250,000.

A family home at Grattan Park, close to the promenade in Salthill, which had an AMV of €200,000, sold for €355,000.

A luxury five-bed family home at Averard West, Taylor’s Hill which had an AMV of €675,000 went to the successful bidder for €720,000.

Auctioneer Colm O’Donnellan said: “Three of the properties sold before auction, while four others are still under negotiation. In all, we sold 38 properties for a total value of €9m.

“It was fast and furious. There is clearly great confidence back in the market,” he said.