A total of 46 out of 65 properties were sold for a total sum of €6.85m at the first Allsop online auction this week.
Bidding on properties began at 10am on Wednesday and closed just before 4pm yesterday.
There were 200 registered bidders, each of whom placed a €5,000 deposit per property to register to bid.
Clearly happy with the result, Allsop said the auction was a “game changer”.
“We believe that this auction is a game changer in the Irish property market and a clear indication of changes in consumer behaviour and their use of technology,” an Allsop statement read.
“We feel that the response by buyers to this transparent method of buying and selling demonstrates a restoration in trust in the property industry and how it does business.
“It also makes buying property an easy process, not limited to location or time. The entire property transaction process is performed digitally, ‘from Catalogue to Contract’.”
Robert Hoban, director of auctions at Allsop Space said: “We are delighted with the result of this auction which we believes gives a clear indication of where the future lies for the property market.
“There was overwhelming engagement by buyers, with many contacting us directly to say how much they enjoyed the process. They found it to be less intimidating and stressful than other property purchases they’ve made in the past.”
Lot 1, set the pace for the rest of the auction. Bidding opened at 10am on Wednesday 18th March and within 10 minutes there were 25 bids, the bidding quietened down until
There was a flurry of bidding in the last minute for a one bedroom cottage in Rialto, causing several time extensions. The property was finally sold after 40 bids for €141,000.
Dublin properties proved to be very popular with highlights including contemporary Dublin apartment located close to the city centre such as two X 2 bed apartments in The Dickens and The Hibernian in Gasworks, Dublin 4 which sold for €361,000 and €346,000 respectively; a 2 bed apartment in Forbes Quay, Riverside 2, Dublin 2 sold for €401,000; and 2-bed duplex in Temple Bar for €243,000.
There was strong interest in family homes in the greater Dublin area. The top selling auction property was a detached four bedroom house in Bray which sold for €550,000; a four bedroom semi-detached house in Templeogue sold for €415,000; a 2-bed townhouse in Donnybrook sold for €306,000; a four bedroom semi-detached house in Little Pace, Dublin 15 sold for €251,000; and a two-bed house in Clondalkin which sold for €159,000.