‘Auction fever’: Irish housing market characterised by overbiddingBy Cillian Sherlock, Press AssociationOverbidding, a widespread misunderstanding of rights, and increasing delays are all characterisations of homebuying in Ireland, according to a new study. The report published on Monday finds that the most commonly used bidding systems encourage people to overbid, leading to inflated prices. The Economic and Social Research Institute (ESRI) has conducted a behavioural science experiment examining the impacts of “auction fever” on the decision making of Irish homebuyers. Participants’ bids were pushed higher in “open auctions”, such as through estate agents and online platforms, than in a sealed bid auction. While participants said they favoured the transparency of online systems due to the perception of fairness, their behaviour in auctions suggests that open systems may actually push up prices.

Source: Irish Independent February 09, 2026 08:18 UTC