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Property Going, Going, Gone For A Song

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RICS said an increase in repossessions had ensured a steady stream of property coming up at auction.

Figures from the CML showed there were 6,230 repossession in 2004, slightly lower than the 7,830 seen in 2003. CML spokesman Bernard Clarke said these numbers were forecast to increase to 10,000 in 2005, rising to 12,000 in 2007.

Whilst this is almost double the number seen in 2004, he said it was significantly lower than the 75,000 repossessions that took place during the height of the last property price slide, in 1991.

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These figures are from last year, they may as well quote 100BC. To use this as an indication that the market place is somehow vibrant now is pathetic. Property, right now, just is not selling in comparison to 2004, whatever channel you choose. Auctions merely displace other methods of sale for a brief period. Again all that happened last year is that the BTL brigade got on the train and came up to quaint L`pool and bought a terrace in Everton for 40K. The clever money was selling at this point, not buying. The difference now, 2005, is shocking. Last week Venmores Liverpool, only 50% sold, previous auction 60%, Opportunity for the FTB to get a good deal? Probably.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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