FT. Com: Commercial auction sales fall

"Private investors appear to be deserting the commercial property market as escalating prices and last week’s interest rate rise begin to bite. In figures released on Tuesday from Savills’ largest commercial property auction, a third of properties went unsold, significantly above the long-run average. At a smaller separate auction held by Colliers CRE on Monday, around two-thirds of properties could not find a buyer – a level not seen for at least a decade."

“Property auctions are a fantastic barometer for the overall appetite for property in the market. It is the only public, instant picture of how supply and demand is changing, and when you see something not selling it’s as interesting as when it does sell well.”