Image: GettyThe Republic’s homebuying process is stoking bidding wars and pushing property prices higher, a new study has found. It found participants’ bids were pushed higher in open auctions managed by estate agents or online platforms than in sealed bid auctions. “Auction fever and loss aversion” can drive individuals to outbid each other and exceed “their pre-stated ideal budgets”, said the ESRI. When asked which elements of the system they would prefer, participants leaned towards online bidding platforms, seller-led surveys and legally binding upon contract signing. “Our findings also suggest that the most commonly used bidding systems encourage people to overbid, inflating prices.”

Source: The Irish Times February 09, 2026 19:32 UTC