House Auction Prices - Market Continues to Stall

publication date: Aug 4, 2010
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books

House Auction Prices - Auction Market Continues to Stall

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 for all the up to date and Headline Residential Auction Statistics.

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