Homes un­der the ham­mer go­ing well

Yorkshire Post - Property - - PROPERTY -

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.”

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