Defying downturn to sell for €515,000

THE negative perception of social housing was dealt a hammer blow last week when no 3 Ardbrack, Scilly sold at auction for €515,000.

The former council house with the salubrious Scilly address opened at €280,000 and was quickly bid up to the sale price by four bidders in this executor’s sale. The eventual purchaser remains anonymous as the property was bought by a solicitor in trust.

The figure achieved has completely bucked market trends, even though it’s a lower sum than the last benchmark price of €600,000-plus, achieved at the same location.