Review in 2009 - 02/02/10

"2009 was a positive year for Auction Finance Limited. We continued to develop strong relationships with auction houses throughout the country and have improved our website to increase the benefits for them. We attended over 250 auctions in the year and strengthened our position as a leading lender in the auction market.

"Having an Auction Finance presence in an auction room allows more lots to be sold as it enables people to secure their purchase on the day. At the moment the biggest difficulty people face when buying at auction is securing funding. We have substantial funds available to lend, so having us on hand to provide this has helped to boost bidders' confidence and ultimately enables more lots to be sold, a definite advantage for auction houses.

"Property prices at auction are still very keen, and with some commentators speculating that we could see an increased supply of distressed stock later in the year I would expect auctions to continue filling up with experienced property professionals looking to buy quickly. Provided auction prices remain realistic there is no reason the recent upswing in sales performance should not continue in 2010. We will continue to be innovative and respond to market conditions and the needs of both bidders and auction houses alike."