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Auction Property Market Update August 2010

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August's property market auction shows slightly suprising results for August. Although it's a typically quiet month (even property buyers go on holiday!) having seen quite a few lots come through in September, the number for August shows a disctinctive lack of activity at every level. 

Month on month, money raised at auction was only £21mn versus £48mn the year before. Only 58% of lots offered were sold in August, this is exacerbated by a fall in the number of lots 42% from 600 properties to 300, of which only 200 were sold in August 2010 versus 400 in August 2009.

The quarterly measures are normally a better indicator, and are only down financially by 14%, lots sold down 16% and the number of lots offered were only 4% down, showing a better peformance than just looking at August. However it still shows that the market has slowed significantly and this is a real lead indicator of what happens in the standard buying/selling market.

For more information READ MORE in Property Investment Update 

READ MORE in the latest RAPID INVESTMENT UPDATE and with EIGROUP's 2010 half year update.

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

Jan 10Feb 10Mar 10Apr 10May 10Jun 10Jul 10    
Feb 09Mar 09Apr 09May 09Jun 09Jul 09Aug 09Sep 09Oct 09Nov 09Dec 09

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

Quarterly Auction Headlines

Aug 10

Jun-Aug 10

Jun-Aug 09

YoY +/-

Lots Offered

349

5,415

5,637

-3.9%

Lots Sold

203

3,447

4,102

-16.0%

Percentage Sold

58.2%

63.7%

72.8%

-12.5%


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

NALS Conference Chair 2016

Kate's Consumer Portal

Propertychecklists.co.uk

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