Oversupply leaves sellers reluctant to auction homes

Estate agents believe the oversupply of second-hand properties means there is a reluctance to put houses up for auction.

30th September, 2006

Estate agents believe the oversupply of second-hand properties means there is a reluctance to put houses up for auction. This follows a high number of properties withdrawn at auction last week.

Most of the more than 100 properties that went under the hammer in the Dublin area last week went unsold. Only a small fraction sold on the day or immediately after auction.

Supply of auction properties is up about 30 per cent on the same...

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