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: "The key factor for February 2009 has been the increase in the overall sale rate to 74%. This is the highest it has been for exactly 2 years (February 2007 was 78%) and shows five months of increased activity, albeit at a lower value.  

David contiinues: "There is no reason why this sales level cannot be sustained in this market so long as vendors are realistic about their expectations, and continue to use auctions as a viable means to sell property in this market." READ MORE in the EIGroup and RAPID update

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

Quarterly Auction Headlines Dec 08 - Feb 09Dec 07- Feb 08YoY +/-
Lots Offered

6,021

6,021

-7.6%
Lots Sold

4,345

4,484

-3.1%
Percentage Sold

72%

69%

+4.9%
 
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
STH Management                    
Tel  +44 (0) 1530 263221
Mob  +44 (0) 7970 646872
Fax: +44 (0) 1530 264018

NALS Conference Chair 2016

Kate's Consumer Portal

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