High property demand expected again in 2023

After another busy year within the property sector, online auction platform iamsold has wished all its clients a happy New Year as it reviews the year just gone.

Throughout 2022, the team at iamsold saw high demand for properties offered by partner auctioneers on its binding bids platform and online auction platform. The platform saw sales of family homes, investment properties, commercial buildings, and sites, along with several successful sales of agricultural holdings take place in all counties across Ireland and Northern Ireland.

As well as wishing clients a happy New Year, iamsold also thanked partner auctioneers who have used the platform this year bringing record numbers of transaction with over 6,000 sales made on the platform in 2022. Company directors Patrick Folan and Patrick Convey announced a strong year for the property market with continued high demand, strong sale levels and an increase in listings on the platform. iamsold held 10 online auctions during 2022 and plan to continue with their monthly online auction dates in 2023 with another 10 dates scheduled, starting from 2 February. Patrick Folan said: “It’s been another year where we have seen increasing demand for the platform from partner auctioneers and their clients. Our process takes months off the standard overall transaction time allowing vendors and buyers who want to move in after an average of 3 months, the option to do so.

“On average the private treaty process is taking 2-3 times longer than sales on the iamsold platform. Partner auctioneers are offering both private treaty and the iamsold binding bids/online auction to clients and many vendors are choosing a faster route to sale.”

Co-Director Patrick Convey added: “With the platform growing in popularity from partner auctioneers around Ireland and Northern Ireland, our team have been working extra hard this year on improving the service and support we give. We have upgraded our IT offering but also increased the support service to give the best possible service to agents using the platform.

“On the back of these upgrades and improvements we were thrilled to be nominated for 3 awards this year including the Property Industry Excellence Awards, The Property Pal Awards and The Belfast Telegraph Awards. We have some exciting new IT developments coming next year also and we are pushing to continue to offer the best package to our partner auctioneers.” The iamsold platform has seen stock levels increasing for the past few months. The company has noted an increasing number of family homes being listed.

Patrick Folan added: “We now see over 50% of the buyers on the platform purchasing with a mortgage. This is a big change from a few years back where less than a quarter of sales were purchased by mortgage buyers. We are seeing the market shift a little towards on the online bidding platforms and the awareness of vendors regarding the offering has grown hugely in the past couple of years.”

Patrick Convey noted: “Increasing interest in a faster more secure process has meant that more agents and vendors are looking at the platform as an alternative to private treaty. The support our team give clients on the legal side makes the process streamlined for all involved and we also work alongside buyers and their solicitors also to ensure they are comfortable with the process.”

iamsold is continuing to take entries for its binding bids and online auctions, the first of which will be take place on 2 February.

Auctioneers interested in the platform or clients looking for more information can contact iamsold on 01-2440000 or visit iamsold.ie.