Homes under the hammer going well
THE UK residential and commercial auction market has shown encouraging growth.
The quarterly trends survey, produced by the National Association of Valuers and Auctioneers (NAVA) and EI Group, shows that 1,838 residential properties were offered at auction in November 2010, a 12 per cent increase when compared with November 2009. In all, 1,078 lots were sold, an eight per cent increase from November last year.
Melfyn Williams, chairman of NAVA, says: “Now is an excellent time for investors and buy-to-let specialists to invest in property through the auction market, as money is likely to accrue faster than if it was left in the bank. We would expect property prices at auction to rise this year.”