Auction Property Market Update September 2009

Download

Property Auction Commentary for September 2009
Skip to Headline Statistics or Useful Resources

This month's auctions have performed much better than August's with 70% of lots sold. Perhaps even property investors go on holiday! Lots are still down by 20% partly due to the dramatic fall in repossessions and a lack of sellers. However prices continue now to move with the general buying/selling market and from large falls of 30% down year on year, the falls are starting to reduce and this month show only a 11% fall based on the last period. However, we must remember the falls are partly reducing because we are comparing a bad year with a previous 'bad year'.
 
David Sandeman from EIGROUP commented: "In the residential sector, whilst the number of lots is still down around 20% compared with last year, the amount raised for the month, quarter and year comparison is only down 11%, 14% and 20% respectively"

READ MORE in the latest RAPID INVESTMENT UPDATE


If you are buying, there are still some fantastic bargains available at auction houses, but they will be harder to find and don't appear to be going at as big discounts year on year.

If you are struggling to sell, now might be a good time to test out the auction houses to see if they can sell your property quickly at a price you are willing to sell for.

REMEMBER: Do your research first and NEVER buy a property at auction without a survey and the legal checks!

Feb 09Mar 09Apr 09May 09Jun 09Jul 09Aug 09

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

Quarterly Auction Headlines Sept 09Jul-Sep 09Jul-Sep 08YoY +/-
Lots Offered2,770

6,119

8,277

-26.1%
Lots Sold1,936

4,376

5,139

-14.8%
Percentage Sold70%

72%

62%

+15.2%

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

Free Property Articles

  Build a passive income stream by investing in profitable boxes
  Many would be interested in how to go about buying and selling on for profit
  When and How you should Sell your Property Investments
  Why you Should Diversify your Property Investments
  What should you do differently in the current economic climate?
 
NALS Conference Chair 2016

Kate's Consumer Portal

Propertychecklists.co.uk

FREE Buy to Let eBooks

Download a copy of our
Buy to Let Show eBooks
for FREEsimply click on
the image below

Buy to Let Show - download our Buy to Let eBook for FREE