Allsop Residential Auction - Live Link

[time 2 raise interest rates]

Lot 247

Guide 210K+ - Sold – 225K

2007-11-01 15 Grafton Gardens, Pennington, Lymington, Hampshire, SO41 8AS £200,000

And another fat loss from 2002 price!

Lot 248

Guide 180 – 200K – Sold – 180K

2002-08-05 17a, Seely Road, Merton, London, Greater London, SW17 9QP £220,000

I hope you're not referring to the land register for past house prices as they are rigged too. It's a Labour thing.

[beans on toast]

Let's be honest. The London results of this auction were disappointing.

Dissapointing in what way exactly.

This time last year you would be hard pressed to find anything making a loss at auction, now its clear that recently bought properties are selling for a loss at Auction - even in London.

I wonder how much Richard Branson would pay for this information as he weighs up buying Northern Crock.

Next weeks Auction would provide a better picture as we have the prev sold prices for over 80 lots.

[cartimandua51]

"Despite the Bank of England's downbeat assessment of the British economy issued yesterday, and the media talking down the sector, Day 1 got off to a fantastic start. In front of one of the largest rooms ever, with over 500 people at any one time, and an estimated 1,000 people on the day, the Residential Auction team knocked down over £44m of property, with a success rate of 86%.

There were both regular investors in the room, as well as first time buyers. Although there has clearly been a market correction, a number of bidders were surprised by some extremely keen prices being paid. "

Online Results summary

I suppose that the people who ARE buying want the certainty that they are paying the market price, which is what auctions give them...

Edited February 15, 2008 by cartimandua51