WHAT IS happening in the market?

While private treaty buyers are busy beating vendors down in price, it seems those prepared to buy at auction must follow the old rule – add around 10 to 15 per cent to the AMV to get an idea of the price. Or is this just a Sandymount thing?

Last week, we reported the successful Sherry FitzGerald auction of a house on Herbert Road for €2.05 million, 17 per cent over the €1.75m AMV.

The next day, agent Bennetts had two houses for auction, one at 109 Strand Road, the other at 72 Tritonville Road.

The Strand Road four-bed in need of refurbishment, which had an AMV of €900,000, was withdrawn at €800,000 and is now for sale asking €975,000.

The Tritonville Road redbrick, also needing refurbishment, had an AMV of €575,000, was withdrawn at €580,000 and is also for sale by private treaty, asking €650,000.