Home PROPERTY Dramatic 90% success rate at first virtual auction of 2021

Dramatic 90% success rate at first virtual auction of 2021

Galway Daily property Dramatic 90% success rate at first virtual auction of 2021

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The first auction of 2021 for Galway based O’Donnellan & Joyce Auctioneers was a promising start to the year, with 90 percent of properties sold as they continued uninterrupted the remote format adopted last year.

On Friday, renowned auctioneer Colm O’Donnellan welcomed bidders from all corners of Ireland who were tuning in via phone or computer for the live streamed auction.

With over 38 years in the business, O’Donnellan & Joyce have been through the good times and the bad in the Irish property market, and have adapted to them all.

Adapting to the COVID-19 pandemic required incredible changes, utilising technology to enable full-remote, live streamed auctions that have kept bidders in the loop moment by moment, even when they can’t be in the room.

In the first of the 2021 nationwide property auctions which took place last Friday, eight of the nine properties going under the hammer in Galway, Roscommon, and Leitrim were sold on the day.

O’Donnellan & Joyce managed to build strong interest among customers well before the auction, using video tours to let prospective homeowners get a look at what they would be bidding on from their own homes.

There were over 100 bidders who pre-registered for the auction, showing the team at O’Donnellan & Joyce that there is still strong activity in the property market, even as the lockdown drags on.

The first lot in Galway up for grabs was a house at 4 Walsh’s Terrace in Woodquay, which attracted attention not just from bidders around Ireland, but the UK and United States.

Though it needs renovation to bring it up to standard, the prime location and large back garden in a city centre house couldn’t have hurt, as bidding shot past the guide price of €290,000, with the house finally selling for €454,000.

Colm O’Donnellan added “the willingness of the market to pay such a price for a property in this state is a sign that there is money available and people are willing to buy.”

He also said that couples are increasingly looking for properties like this, where they can put their own stamp on the home.

Other properties that proved attractive to bidders included No. 18 Sylvan Drive, a four-bedroom detached house in Newcastle that would make an excellent family home.

It’s spacious nature, off-street parking, private rear garden, and the close proximity of green spaces certainly ticked all the right boxes in enquiries made before the auction.

The hammer ultimately came down at €389,000 for an overseas buyer, after fast and intense bidding that took the house well over the guide of €330,000.

People are increasingly interested in moving out of towns and cities in the past year, and a large six-bedroom house in Moycullen overlooking Lough Corrib proved the perfect blend of picturesque countryside that’s not too isolated.

This house ended going for €355,000 on a guide price of €310,000 after getting a lot of attention from locals and ex-pats hoping to return home to Ireland later this year.

Auction Co-ordinator said there are still many people who are looking for properties in the Moycullen and Oughterard area.

We have a number of bidders from this auction and previous auctions who have a preference for homes in the Moycullen and Oughterard area and they are actively looking to complete purchases.”

“If you have a property that you are thinking of selling, O’Donnellan & Joyce are offering free thinking of selling valuations. Just call 091 564 212”.

Achieving a 90% success rate in their first auction of the season, Marketing Executive Aaron O’Reilly commented that “We are looking forward to a busy year of property sales and excellent results.

“Of course we would like to get back to face-to-face viewings and live auctions but with the introduction of virtual viewings and live stream auctions, we have been able to reach an even greater audience through the use of technology.”

“We look forward to delivering on our promise to sellers of achieving the best possible sale price for them”. 

O’Donnellan & Joyce’s next property auction is on Friday 16th April. The company are offering a free ‘Thinking of Selling’ valuation to anybody that is considering selling a property.

To avail of the offer, all you have to do is simply call or email the auction team and a member of staff will arrange to carry out a valuation of your property. The team can be contacted on 091 564 212 or by emailing info@odj.ie

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