16 November 2015
150 people registered for the REA Munster Auction at the Limerick Strand Hotel including telephone/proxy bidders. 94% of properties were sold at auction with the remaining properties presently under negotiation. Average prices exceeded 35% above the minimum reserves, in particular there was considerable interest in one commercial property at Barrington Street that had a minimum reserve of €200,000 and sold for €337,000. There were multiple bidders on each of the properties indicating strong demand in the Munster region. We have six auctions planned for next year with the first one to be held in February 2016, details to be posted online in December.