Record Crowds Flocking To Festive Property Auctions - 06/12/11
Record numbers of property investors will seize Christmas bargains by spending more than £400m at property auctions in December, predict experts.
More than one hundred auctions are scheduled to take place across the UK in December. Experts predict the busiest Christmas for five years as low prices and better winter weather means there will be greater appetite to get the deal done before Christmas.
Last year more than 2,000* properties were sold in December at auction with a total value of £400m**.
Chris Baguley, Director of Auction Finance Limited, the national lender, predicts a bumper season:
"Buyers are desperate to get tenants into their properties before Christmas or in the New Year. We're expecting even more cases to come in this side of Christmas because the snowy weather of the past two years made it physically tricky for tenants to move in. We predict the completion rate will be higher this Christmas compared to 2010 and auctions will be packed with property professionals hunting fantastic opportunities."
David Sandeman of the Essential Information Group added:
"It's always a busy time of year for auction houses and we feel there will be an even stronger appetite this year. If you want a quick sale or a quick purchase, December is a good time to be looking at the auctions."
For a full list of auctions in December click here to view our calendar.
*/**Figures provided by Essential Information Group
