The main advantage of buying a property at auction is that you avoid the lengthy process of buying a house in the traditional way. At auction, the process happens in a matter of minutes rather than months and when the hammer falls, you own the property.
The other many benefits of buying property at auction are listed below. If these don't convince you, nothing will!
Low prices
Auctions really do offer the chance to secure property at bargain prices. Thousands of properties are sold at auction in the UK every year - and many are hard to value, meaning they often sell at below market value. You
UK house prices increased by 1.1% between September and October and re up 2.8% quarter on quarter and 9.7% year on year, the latest property index shows.
This means that the average house price is now over £200,000 at £205,240, according to the Halifax index data and the report says that house price optimism remains high.
The 1.1% monthly rise followed a previous month’s fall of 0.9% and the market is up and down with the quarterly figures being more reliable in terms of indicating overall trends, according to Martin Ellis, the Halifax’s housing economist.
Sales at Auction House London hit a record high this week at its sale at the Landmark London Hotel (Tuesday 27 October 2015), with a total value of £25,472,120.
The most significant lot in the sale reached £4.9m before being sold – breaking a second record for the award-winning brand by becoming the highest value property ever sold by Auction House London. The empty site in the centre of Luton had a guide price of £4.5m. It is close to the university and has planning permission to build accommodation for 180 students, plus 84 flats and an area for shops.
A property auction can be a thrilling and efficient way to sell property fast, and secure a guaranteed sale.
Exchange contracts on property auction day
Sale guaranteed upon fall of the hammer
10% deposit paid immediately
Completion within 20 working days
Maximises sale value
Although property auctions have historically been used for sales of repossessed homes, they are growing in popularity amongst vendors of all kinds of properties looking for quick sales. Using a property auction is the fastest way to sell. If you want a quick sale or have a deadline to meet, then a
Homes Under The Hammer host and property expert, Martin Roberts' property auctions roadshow commences next week.
Martin has helped create a training course, based on his best selling book "Making Money from Property", that will put you in the best possible position to benefit from property investment. From spotting bargains and the hints and tips of buying at auction, to negotiating finance and running a successful portfolio. The market is on the move. Act now to make sure you don't miss the boat!
The October Acuitus auction saw the sale of £67.6m of assets at a success rate of 89% and illustrated the opportunity for sellers to capitalise on the high level of current investor demand.
Following the sale, Acuitus Chairman, Richard Auterac, commented: “Auctions have been characterised as a high yielding investment environment but the sharpening yields now being achieved in the sale room are notable.
“Investors who are confronted by the minimal - and sometimes volatile - returns currently available in the equities and gilts markets are being attracted by the comparatively high returns that
Derbyshire auctioneers, Bagshaws Residential held its fifth Midlands property auction of the year at Derbyshire County Cricket Club at the end of last month.
There was a lot of interest in the properties being offered prior to the auction with the sale being well attended with vendors and purchasers alike.
Cash buyers together with proxy and telephone bidders competed for properties from as wide an area as Skegness and County Durham.
Many properties were sold above their guide price with a three-bedroomed terraced house in Nottingham selling for £32,500 above guide, a three-bedroomed mid
There’s more good news for property investors and buy-to-let landlords as average rental values rise by 10.5% in the three months to August, according to the latest HomeLet Rental index.
Headlines from the report include:
When London is excluded, the average UK rental value in the 3 months to August 2015 was £766pcm - 6.6% higher than the same period last year (£718pcm)
The annual growth in average rental values for the three months to August (10.5%) was higher than 2014 (8.1%) and 2013 (4.9%)
In the three months to August 2015, average tenant incomes were 3% higher
The UK’s leading property auctioneer Auction House is bucking the national auction trend, with a 14% rise in lots sold in 2015, compared to last year.
This contrasts with the latest Essential Information Group picture of a 4.8% drop in auction lot sales year on year, and within a property market that commentators say exhibits a real shortage of instructions.
During the first three-quarters of this year, the award-winning auctioneer recorded 2,370 lots sold from 3,087 offered, at a success rate of 77%, and raising a total of £305 million.
