House Auction Prices - Market Cooling

publication date: Sep 8, 2010
 | 
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
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House Auction Prices - Market Cooling


July's figures confirm that the property market is cooling at a national level for residential auction properties even when property demand and supply is matching. Year on year the number of lots are down, but over the quarter, there has been a 7% rise in the number of properties being sold through auction, while the number of deals being down has fallen by 10% on a quarterly basis and therefore the value of property sold has also fallen by 10%.

Interestingly, as with most property markets, there are vast regional differences. The East Midlands for example is flying at auction level with lots up by nearly 30% May to June 2010 vs 2009; the percentage of lots sold is 70% and revenue generated is up by a massive 23%. As Nottingham is a key area for property investors this is likely to be one of the main reasons behind the local versus national growth.

READ MORE for an indepth analysis of the Residential Auction Market for July and EIGroup's 2010 Half Year Update.

If you're thinking of buying or selling a property at auction, then take a look at our top tips - Buying or Selling at Auction Top Five Tips.

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