Residential Auction Market Update February 2009

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Commentary  
Skip to Headline Statistics or Useful Resources
Auction stats are a really useful indicator of what's happening in a poor buying/selling market. Up until October 2008, auctioneers were suffering a lack of sales, just like the normal market. However from October auction houses have been selling properties like hot cakes, albeit the value of sales is down. 

According to David Sandeman of EIGROUP, January saw the number of lots offered and sold increase when compared to the previous year, particularly in the residential market with 13.6% more lots sold than in January 2008. The percentage sold figure has now stayed the same for the last three months, suggesting that sales volumes are performing at the same level as last year, if not slightly better due to the number of repossessions, albeit that the value of sales is down.


Headline Statistics for Residential Auctions
These statistics are provided courtesty of EIGROUP and are produced in detail by region

Quarterly Auction Headlines Oct to Dec 08

YoY+/-

Nov 08 to Jan 09YoY+/-
Lots Offered

8,199

+5.9%

6,163

10.2%
Lots Sold

5.423

+9.9%

4,237

17.1%
Percentage Sold

66%

+3.8%

69%

6.3%
 
Useful Resources

EIGROUP  SAVILLS

For more market commentary on a national or local level:-
Contact Kate Faulkner on 07974 750562 or 0845 838 1763. To read more about Kate, please visit ABOUT US, see Kate on video and for media appearances, contact:

Sylvia Tidy-Harris
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Fax: +44 (0) 1530 264018

 
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