Still some interest in buying property

THE auction of some 80 repossessed properties in Dublin yesterday was the first auction of its kind for some time. It, therefore, afforded a real indication of current property values.

Although there was room for over 800 people in the room, interest in the sale was so great it had to be suspended for a time over Garda concerns due to overcrowding.

It has been widely accepted that property prices have dropped by 50% for their peak, but this has been largely supposition, because so little property has actually been sold since the collapse.