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Auction Property Market Update October 2010

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September's activity is in stark contrast to the lack of lots and sales offered in August and since April. September shows the number of lots offered was up 24% versus last year (albeit Jan to Sept 2010 vs 2009 was static). The percentage sold was still only 66%, suggesting that stock is coming back but buyers haven't worked out yet that now is really the time to 'bag a bargain', although this should change over the coming months.  

As always with auctions, the data shows that as the 'general' market quietens and the media reports suggest falling house prices, auctions are the place to be as the number of properties available goes up while the prices they will sell at typically go down. This is shown in September's figures where the number of lots sold is up by 18%, but the value of the stock has only increased by 1.4%.

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 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

Sep 10

Jul-Sep 10

Jul-Sep 09

YoY +/-

Lots Offered

3,454

6,828

6,119

11.6%

Lots Sold

2,281

4,5054,376

2.9%

Percentage Sold

66%

66%

71.5%

-7.7%


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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