'Lots' Of Homes Under Hammer As Popularity Grows

Six lots are due to be auctioned off in Cork in a bid to get rid of property more quickly and with a trend toward public auctions emerging.

This is the first of a series of auctions to be held in Cork.

The event, hosted by auction house Denis A Barrett Auctioneers will take place tomorrow at the Imperial Hotel from 2.30pm.

Properties include a high-spec renovated farmhouse with sea views on 0.5 acres on the Beara Peninsula with a reserve price of €90k, a site at Kiskeam in Mallow with a reserve of €20k and a two-bed apartment in River Towers on the Lee Road at €125k.


"There seems to be a trend towards public auctions emerging, as clients are eager to dispose of properties more quickly than the current sluggish market allows," said Denis Barrett of Denis A Barrett Auctioneers, South Mall.

"Public auctions have taken on a new impetus, with a more discerning buyer and a commercially-aware seller," he added.

Historically, auctions have generally been confined to small or single lot sales. But due to the rise in popularity in websites such as EBay and the real need for change in the Irish property market, the auction route is becoming an increasingly popular method of sale.

(LB/BMcC)