Auction Prices

[dipstick]

Just as a matter of interest I was wondering if anybody watched house prices at auction? I've always felt they give the best immediate indicators as to what is happening in the market and at the minute although prices and total numbers sold seem to have fallen in many areas, overall, they still seem to be doing OK. Any other opinions as I personally would be more comfortable if they were dropping off more.

[jpidding]

Just as a matter of interest I was wondering if anybody watched house prices at auction?  I've always felt they give the best immediate indicators as to what is happening in the market and at the minute although prices and total numbers sold seem to have fallen in many areas, overall, they still seem to be doing OK.  Any other opinions as I personally would be more comfortable if they were dropping off more.

<{POST_SNAPBACK}>

Interesting thread, pity no one has answered that they attend and monitor auctions.

Surely if we are all waiting for a crash, when it comes the place to get a real bargain will be the auction houses. Shouldn't we be genning-up on how they work and whats happening there.

Howabout rather than organising pub meets where we all sit around getting pissed and re-discuss the stuff on this site whilst all nodding in agreement, that we arrange some group meetings at various auctions around the country and then post the reults here?

Just a thought!

[Northern Sole]

I've been looking at the auctions in South Yorks for the past 9 months. Things have definitely slowed down - quite a few properties now not meeting reserve price and either remaining unsold or (more usually) being sold after the auction. The auctioneers report is now stressing that vendors should have sensible reserve prices if they want to achieve a sale. Here's a link to the site - you can check through previous auctions here as well.

http://www.markjenkinson.co.uk