House Auctions - Sold Properties Falls
The number of properties actually being sold at auction has fallen to a 3 year low, as buyers become more cautious.RICS reported that only 57% of houses put up for auction actually sold in the last quarter of 2007, compared with 69% in 2006.
7,732 properties were auctioned during the fourth quarter, close to historically high levels.
However, only 4,539 of these were actually bought, leaving 3,310 unsold - 50% more than a year earlier.
RICS blamed the drop on a combination of greater uncertainty about the housing market, as well as tighter mortgage lending conditions as a result of the credit crunch.
RICS also said there had been a 50% jump in the number of repossessed properties that went under auction, with repossessions increasing as a result of higher interest rates.
This underlines the value of the service offered by a quick house sale company such as Quick Move Now.
For those looking to sell their house, or who face repossession, we can act quickly & provide certainty:
- certainty that you will sell you house
- certainty of the timeframe for selling
- certainty of the price you will receive
Don't leave your house sale to the vagaries of a property auction - call Quick Move Now and sell your house with speed and certainty. Callus on 0800 068 3366.
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