A total of 138 auctions were held in the UK during June, shifting 1,756 lots out of 2,431 on offer – a success rate of 72.2%.
Last June, just 61.4% of lots sold.
David Sandeman, managing director of Essential Information Group, which produces auction data, said: “Whilst reports coming from the private treaty market are that the market is slowing and many properties are remaining unsold, the auction market is bucking the trend with increasing numbers of lots selling.”
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Comments
Not surprising, will we see more properties going to auction as repossessions creep up!
However I doubt the success rate will increase as banks set high reserves on them.
Are Estate agents seeing any more signs of distressed sales?