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Auction Property Market Update November 2010

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October's activity remained high for auctions as sales in the general market slowed significantly, causing people and companies such as lenders who had to sell properties, to sell via auction. October lots offered was up 17% versus last year (albeit static over a 12 month period). The number of buyers however was still low versus previous busier activity with only 62% sold.

The good news for residential auction owners and their sellers was for the first time in some months, although the number of lots sold was down, the amount of money raised was up versus October in the previous year. This suggests if the right properties are sold at the right price, there are cash rich investors out there that can afford to snap them up.

Thinking of investing? Then head down to your local property auction house!

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 10Aug 10Sep 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

Oct 10

Aug-Oct 10

Aug-Oct 09

YoY +/-

Lots Offered

2,716

6,528

5,680

14.9%

Lots Sold

1,7094,2464,062

4.5%

Percentage Sold

62.9%

65%

71.5%

-9.1%


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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