Friday September 17 turned out to be a phenomenal day of sales with more than 30 properties going under the auction hammer in the O’Donnellan & Joyce digital auction room. Colm O’Donnellan took to the podium at his live stream property auction which was viewed live by more than 7,000 people. Speaking through smartphones, tablets, and computers in homes and offices across Ireland and indeed abroad, Mr O'Donnellan outlined how the live stream auction works, demonstrating that the team have the technology, the manpower, and the determination to survive the current challenges of this long-lasting pandemic and continue to deliver on their promise to buyers and sellers of property both locally and nationally.
The O’Donnellan & Joyce September property auction, which took place last Friday, was highly successful with more than 20 properties sold during the auction, and with post auction negotiation resulting in additional sales. With the help of virtual tours and video walkthroughs, many people are purchasing homes without physically viewing them. The live stream auction provides a platform like no other which enables people to purchase their future home without leaving their current abode.
Having more than 200 pre-registered bidders signalled to the team that there is still a great deal of money available in the marketplace and demand is strong for homes in Galway city and county, and across the country. With the shortage of new homes coming on stream, the O’Donnellan & Joyce auction provides an ideal platform to achieve a great sale price for your property while offering a fair and transparent method for purchasers to rely on. Commencing at 12 noon last Friday, bidders viewed the auction from the comfort of their own homes and offices, while bidding by telephone, proxy, and internet bidding.
Lot 1 – No 4 Newcastle Court, Newcastle, Galway
A superb three bedroom first floor apartment located just off the main Newcastle Road adjacent to the hospital. This property was an excellent investment opportunity with huge rental potential due to its location close to UHG and NUIG, and within walking distance of the city centre. The auctioneer accepted 22 bids from a total of 12 bidders. The lot commenced at the AMV price of €225,000 but quickly rose in increments of €5,000 to the final sale price of €325,000.
Lot 2 - Nos 10-12 Sea Road, Galway
This commercial property located on Sea Road in the city centre, which commenced at the reserve price of €150,000, attracted great attention from the market with many inquiries from people looking to pre-register to bid. After an intense bidding with 24 bids from multiple interested bidders, the sale concluded at a sale price of €340,000.
Lot 3 – No 50 Cookes Terrace, Bohermore, Galway
This property, located within walking distance of Galway city centre, was a terraced home with three bedrooms. The property attracted great attention from the market with many inquiries and bidders pre-registering to purchase the lot. The house comes with a rear patio and off-street parking which are must-haves for any prospective buyers. Bidding on this lot commenced at the AMV of €220,000 and quickly concluded at a sale price of €260,000.
Lot 4 – No 11 Water Lane, Bohermore, Galway
A charming two bedroom semidetached home also located in Bohermore. Although the exterior is very deceptive, this property offered many wonderful qualities, most notably the rear garden which was a real little oasis in the city centre. The property commenced at the reserve price of €210,000 and sold for €232,000.
Lot 6 - Funachree, Roundstone
This property boasted unobstructed views over Dogs Bay which had enormous potential. The virtual tour of this property reached homes far and wide and even tickled the interest of some international investors. The bidding on this lot concluded at €460,000 and is sure to become a dream home.
Lots 7 to 9 – No 98 Monalee Manor, No 12 Cardinal Cushing Road, and No 10 Glenanail Drive
These three properties were in different areas around Galway city and either met or exceeded the reserve price. All three homes offered enormous potential for buyers and will make perfect family homes or indeed investment properties with enormous rental potential.
Lots 11 and 12 on the day were both properties located in Achill Island, Co Mayo, and received a huge number of inquiries in the weeks leading up to the auction due to their location, with both properties providing the potential to be wonderful holiday homes. Lot 11 was No 15 The Links which had more than 20 registered bidders, and after fierce bidding the lot which commenced at €90,000 eventually went under the hammer for €142,000. Lot 12 was No 25 Slievemore which also had a high number of bidders, and with a reserve price of €115,000 this property sold for €134,000.
Another notable property going under the hammer last Friday was Lot 33 – No 5 Corrib View, Cornamona, Co Galway. This property required some completion works but despite this it attracted a lot of potential buyers, and after some 25 bids the property, which commenced at the reserve price of €75,000, eventually sold for €142,000.
There were many other sales on the day that exceeded the expectations of both the vendors and the auction team. A property in Boland's Lane in the centre of Gort, Co Galway, was a two bed property which went for €104,000 - €29,000 over its reserve price. Two properties in Carrick on Shannon in Co Leitrim also sold for well over their reserve prices, showing the demand for property even in local towns across Ireland. On the opposite side of the country in Delgany, Co Wicklow, a three bed mid-terrace home attracted a number of interested parties. The bidding commenced at €295,000 and concluded at €337,000 with bids coming in from both internet and telephone bidders.
The final lot of the day – Lot 34, No 311 The Lodges, Ballykisteen, was an excellent three bedroom semidetached residence situated in the grounds of the Ballykisteen Golf Hotel overlooking the golf course in Co Tipperary, and after 19 bids, the final sale price of €161,000 was reached. From a starting bid of €110,000, this property is a prime example of the level of interest and final sale price that can be achieved by selling by public auction.
After the auction, Colm O'Donnellan said: “The willingness of the market to pay for a property in this state is a sign that there is money available and people are willing to buy. We have three more live stream property auctions in 2021, if you have a property that you are considering selling, give us a call and we will endeavour to maximise your return.”
The O’Donnellan & Joyce live stream property auctions have become the top property auctions of 2021 as Colm O’Donnellan and his 15-strong team offer cutting edge performances to their national and indeed international audiences.
With an 85 per cent average success rate for 2021 to date, the company is soaring in terms of stock sold, sale prices achieved, and revenue generated for vendors. This was the fifth of eight live stream auctions of 2021, and the next one takes place on Friday October 22 – a date to put in your diary.
If you are thinking of selling your property, O’Donnellan & Joyce offers free ‘thinking of selling’ property valuations. 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 ) 564212 or by emailing [email protected]. Further details and the full auction results can be found on www.odonnjoyce.com
