Organisers of the country's first distressed property auction, which took place in Dublin today, say they are delighted with the turnout.

A total of 84 properties from all around the country, went under the hammer in the Shelbourne hotel.

Allsop UK, which is behind the sale with its Dublin affliate Space, said that at one point the level of interest was so high, they were taking bids from people on the street outside who could not get into the auction room.

While some of the properties were sold for well above their maximum reserve prices - several apartments were sold for the reserve given.

A one bedroom apartment in Temple Bar which had a max reserve price of €80,000 was sold for €126,000.

Two adjacent houses in Churchtown on large sites with planning permission went for around €100,000 more than their max reserve prices of €400,000.

A mews house in Ballsbridge with a max reserve price of €600,000 was sold for €550,000.

While a lot of apartments in the Dublin area appear to have gone for their reserve prices - one freehold building in Wexford comprising six apartments and retail units, went for €560,000, well above its max reserve of €210,000.

All but two of the 84 lots were sold at the auction.