Auction Property Market Update June 2010
Skip to Headline Statistics or Useful Resources
June's figures show that the residential auction market continues to stall, suggesting either a lack of confidence in purchasing or a lack of available finance.
The number of lots offered ie the number of properties up for auction was lower than last year, with only just over 2000 properties up for grabs. The number sold however was down by a massive 25% June 2010 versus June 2009, with only 60% of lots actually sold. Not suprisingly the amount of money raised from selling auction properties fell by 15%. Although this does suggest that the average property value sold was higher this year than last as volume fell by 25%.
Auction figures do appear to be a lead indicator in what's likely to happen next in the general buying and selling market and although figures have fluctuated month on month, they do seem to be showing a steady drop in interest.
READ MORE in the latest RAPID INVESTMENT UPDATE
REMEMBER: Do your research first and NEVER buy a property at auction without a survey and the legal checks!
Headline Statistics for Residential Auctions
These statistics are provided courtesty of
EIGROUP and are produced in
detail by region.
Quarterly Auction Headlines | Jun 10 | Apr-Jun 10 | Apr-Jun 09 | YoY +/- |
Lots Offered | 2,039 | 5,985 | 5,964 | 0.4% |
Lots Sold | 1,226 | 3,843 | 4,270 | -10.0% |
Percentage Sold | 60.1% | 64.2% | 71.6% | -10.3% |
Useful Resources
EIGROUP SAVILLSFor 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
