British auctioneer Allsop shook up the Irish market earlier this year when it announced it would put some properties on the auction block for around a quarter of their peak prices, raising fears of sharp new price falls.
But the crowds snapped up properties at closer to half their peak prices, setting a benchmark in a market with little transparency and showing some Irish punters are still willing to spend despite an unprecedented economic collapse.
"This gives us an idea of what things are really worth," said Tom Murray, a liquidator selling five properties. "It shows there's a market when the price is right."
He said he was "delighted" to get 345,000 euros ($498,700) for a three-bedroom penthouse in the south inner city, which he said might have sold for 850,000 euros during the heady days of the "Celtic Tiger" economy.
Most of the properties sold for around 50-60 percent below their pre-boom prices, according to real estate professionals monitoring the auction, in line with an estimate of peak-to-trough falls by the central bank in stress tests last month.
All but two of the 84 properties were sold, some for around one-third of their peak price.
www.reuters.com/article/ireland-property/irish-property-fire-sale-attracts-large-crowds-idUSLDE73E1ZV20110415
pity it wasn't so cold and so irish and so rainy and so close to the poms otherwise may be worth a punt, can only go up from there 
Australian property isn't overvalued though because the boat people have loads of money and they'll prop up demand.
BUT THEY SPEAK ENGLISH THERE AND HAVE SIMILAR CULTURAL VALUES SO THAT MEANS AUSTRALIAN PROPERTY VALUES MUST CRASH HERE TOO!!!
^^^ Nah that will never happen - there is no YouTube evidence that supports that theory. 
quick and easy sale plenty of commission ..
poor bankrupt paddy out of pocket and bankrupt stuck payn off a deficit ..
paddy shoud of asked Germany or china or any other country running a surplus for a bail out.
There's a big difference between Ireland and Australia! Australia doesn't have enough land to go round, where as the Irish have plenty... so logically property is gona be way more expensive in Oz than Ireland.
