Belfast Telegraph

Thursday 17 April 2014

Ulster auction houses sold at rock bottom prices

it was Northern Ireland's big house clearance sale — and every one of them at a rock bottom price.

A gang of eager bidders has walked away with a range of cut-price homes at one of the largest auctions of its kind in Northern Ireland.

A range of residential properties went under the hammer, including a three-bed terrace in Co Armagh for a jaw-dropping £48,000.

All the houses sold went for well under half of their previous values.

First-time buyers looking for a modest two-bedroom could snap up a little property in Ballymena — finally selling for just £28,000.

Several of the 27 knockdown lots sold on the night, with the rest expected to go through negotiations running into the evening.

The man holding the hammer was Raymond Hill, chief executive of Belfast City Auctions, who held the event jointly with CPS estate agents. He was “very impressed” with how the night went.

“It was a full auction hall with more bidders than I had expected,” he said. “Online was also quite busy and I think that’s one of the first times in Northern Ireland that’s been done.”

Art O’Hagan, managing director of CPS, said it was a “superb night”.

“It’s worked out very well — most people got their price. Many of them are now in negotiations.”

One lucky first-time buyer, Stephen Donnelly (33), snapped up a detached three-bedroom home in Armagh for himself and wife Catherine (31). It set them back £110,000 — down from a guide price of £260,000.

“I’m over the Moon for getting it. I’d been looking around for a while for one but this is great,” he said.

The next auction is due to take place at Belfast City Auctions outside Carryduff on February 21 next year.

Background

Last night 27 properties went under the hammer as part of a joint auction by Belfast City Auctions and CPS estate agents. It was one of the largest of its kind in recent years and featured a range of cut-price residential properties. According to the organisers, the sales are likely to run as bi-monthly events, with much interest due to the increasing number of liquidations and bankruptcies over the last few months.

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