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Auction Property Market Update January 2011

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Interesting figures are coming out from the auction markets, on average, suggesting a stability in lots offered and the amount of money raised being slightly down year on year. The market isn't as strong as it was a year ago. Lots available were up 5-10% (YoY and on a quarter by quarter basis), while the amount paid was down by up to 6.5%. Lots going to auction have approximately a 70% chance of being sold, similar to last year.

Interestingly though, the regional picture is different from the north to the south. All auctions outside of London and the South East and West are down year on year with volumes and the amount of money suffering, while everywhere else seems to be doing well with volumes and the value of auction sales up year on year.

The West Midlands is the only exception to this with monies raised down by 30% and lots offered down by 6.5%. The North East is the best performer, raising over 30% in value terms with the number of properties sold through their auctions up by 36%.

For more information on what's happening in your area 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 10Aug 10Sep 10Oct 10Nov 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

Dec 10

Oct-Dec 10

Oct-Dec 09

YoY +/-

Lots Offered

2,614

7,512

6,474

10.5%

Lots Sold

1,787

4,707

4,544

3.6%

Percentage Sold

68.4%

65.8%

70.2%

-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
STH Management                    
Tel  +44 (0) 1530 263221
Mob  +44 (0) 7970 646872


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