House prices in the Newry and Mourne area have reached an all-time high after a shorefront house in Warrenpoint was sold at auction for £1.85m.
The house is set in 0.62 acres of land
However, the estate agent who sold the house, Garry Best, believes the new owner may demolish it and build a new one on the site.
Mr Best said: "There's a strong likeliehood they will knock it down.
"I imagine a new owner would spend between £350,000 and £500,000 building a new property there."
The two-storey house, on a 0.64 acre site with uninterrupted views of Carlingford Lough, was bought on Friday by a Dublin businessman.
Mr Best said the area was one of "amazing" natural beauty and was therefore a very sought after location.
A bedroom of the house overlooking Carlingford Lough
"This particular site has a great shape and fantastic elevation, which gives an amazing view of Carlingford Lough," he said.
"The guide price of the property was £1.15m, and with a large attendance at the auction, I had a feeling that it would generate a high figure."
He said most viewers at the auction were of the opinion that they would knock the house down.