'This property was truly a gem': Bidding frenzy pushes Northern Ireland two-bed terrace to nearly double its guide price
Auction House Northern Ireland’s first sale saw a two-bedroom mid-terrace in Co Down spark fierce competition, selling for £80,000 after 42 bids from seven determined buyers
Two-bedroom terrace ignites a bidding war in Auction House Northern Ireland’s first auction, with the hammer finally falling at almost double the guide price.
Auction House Northern Ireland saw plenty of bidder activity in their first online auction in the region, with 19 Damolly Village in County Down proving to be the perfect inaugural lot.
The modest two-bedroom mid-terrace house was in need of some refurbishment, but a competitive guide price of £41,000 (plus fees) soon whetted bidders’ appetites. In the run-up to the auction, each open house attracted around 20-25 viewers, resulting in several pre-auction offers.
“This property was truly a gem, and it was unsurprising that it attracted so much interest – and plenty of pre-auction offers,” said Philippa Martinez, national sales manager for Auction House Northern Ireland.
“However, our partners and I rightly encouraged the seller to go to auction to secure the best possible result.”
On auction day, seven bidders logged into the company’s website to place their offers, submitting 42 bids within a 24-hour period. Upon the fall of the virtual hammer, the winning bidder secured the sale at an impressive £80,000, nearly double the property’s guide price.
“This result is a fantastic start for our Northern Ireland office and shows that there is plenty of appetite in the market if the price and opportunity are right,” added Philippa.
“This property had a competitive guide price as well as plenty of potential. With some refurbishment it could be a valuable asset for a landlord, which savvy investors were quick to notice.
“We were delighted to secure such a great outcome for our seller in our first auction for the region. A big congratulations also goes to the successful bidder.”
Buyers who missed this property can be among the first to spot upcoming lots on Auction House Northern Ireland’s website.
Auction House is a UK-wide brand with a local presence. They operate across England, Wales, Scotland and Northern Ireland, holding close to 200 online, livestream and in-room auctions every year.
Despite being a nationwide brand, they pride themselves on maintaining a regional presence. With local, knowledgeable teams, they offer a truly personalised service to sellers, buyers and partners alike.