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Auctions clear 7 in 10 lots

17 July 2009
Written by rosalind renshaw

There were 145 property auctions held in the UK in June.

The total lots offered were 2,687, of which 1,908 (71%) sold, raising a total of  £232m.

David Sandeman, managing director of Essential Information Group, which produced the data, said: “Volumes through the auction rooms have been decreasing over the last two years. June was no exception, though the drop in overall total raised only fell 3.5% compared with June 2008, and is the lowest fall this year. April 2009 saw a 48% fall on April 2008.

“This could be a sign of the auction market levelling out.”

The overall percent sold rate of 71% was the same as for May, and 14% above June 2008.

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