QuietObserver, on Apr 20 2005, 04:46 AM, said:
Despite all the problems though, prices seem to have risen the highest in the west end compared to anywhere else. Many old school landlords have offloaded some complete rubbish to BTL novices recently at stupid prices. Scarily, some of this is still selling - this pair of flats sold for £80K at last month's Pattinson auction and would have been around £10-20K not so long ago!
Gerald Street, Benwell
Here's last month's auction results in full
Pattinson Auction Results - March 2005
A lot of dodgy stuff there. I presume auction is a last resort for places they can't sell or need to sell quickly. If so the numbers should rise and prices fall quicker than the rest of the market.