Supporting Property

Online auction platform records 22% increase in number of homes for sale

Online bidding platform iamsold, which is used by over 300 auctioneers nationwide, has noted a 22% increase in stock for sale during the past month.

During the month of August and into September, the company noted an uptake in vendors and agents using their online bidding platform. Additionally, the company noted a sharp increase in listings in recent weeks particularly in late August and increasing further into September.

Shane May, Sales Manager for iamsold, said: “We are seeing the level of enquiries ramp up a little more as we head out of the holiday season. We expect enquiry levels to continue to increase as we head into late September and October where the buying pool is generally more active.

“There are some concerns on how inflation and interest rate hikes will affect the market overall and September will be telling in terms of overall market confidence. We do expect good interest in properties during September and expect a busy month of sales ahead.”

Last week, iamsold along with many of their partner auctioneers, experienced a flurry of sales via the online binding bids platform, and are now taking entries for upcoming auction on October 13 and November 17.

One of the recent sales was a three-bed terraced property at No 70 Ballinfoile Park in Galway City, with tenants in situ. The property was offered to the market at bids over €160,000 and had strong interest from investors looking for a good rental yield. The property, which is ideally located within walking distance of the city, was successfully sold for €187,000 to a delighted new owner.

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