Auction Property Market Update October 2010
Skip to Headline Statistics or Useful Resources
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!
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 | 4,505 | 4,376 | 2.9% |
Percentage Sold | 66% | 66% | 71.5% | -7.7% |
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
