WE THOUGHT bidding wars were a thing of the past but there seems to be something of a frenzy surrounding an Enniskerry house on one acre. Savills says it has 98 recorded viewings – either conducted or scheduled – of Five Acres, a pre-fabricated bungalow on one acre at The Scalp near Enniskerry, Co Wicklow. It is on the market at €250,000.

The property, new to the market only last week, has mountain views of the Sugar Loaf and Carrigologan, a stream and a paddock. The house has five bedrooms, a kitchen, utility room and livingroom.

However, all may not be as it seems. The difficulty of getting a loan to buy a pre-fabricated house will immediately exclude some interested parties. The agent has already had feedback that some people have spoken to their banks and found a higher loan-to-equity ratio applies given the nature of the structure and have opted out. Savills is now only taking bids from cash buyers or those with proof of finance approval.

“Of those looking and interested there are two distinct views,” says Savills. “Some are taking a view to try and use the house as the basis of a planning permission for a replacement structure and others feeling the existing house is worthy of being improved.”