A new report from the Central Bank which found the average price achieved at house auctions over the past two years was €130,000, with owners willing to sell for as little as a quarter of peak boom prices, has been described as “unusual”.
Citing data from property auctions conducted by Allsop Space from April 2011 until the end of September this year, Central Bank economist Eoin O’Brien yesterday said the average house was sold for €130,000, with reserves being set at dramatically lower levels than would have been the case at the height of the market.
However, Keith Lowe, of DNG estate agents, said the data was at odds with the new property price register, which showed the average selling price was nearly €190,000.
