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Auctions As A Guide To Real Market Demand

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I'm a bear, but have to say that while I can see the clouds very close, in my view it ain't massively raining yet. I still believe we are in the denial phase. So I'm looking for greater clues and was wondering whether any HPCers who are attending auctions can give any guide to how these are unfolding. I remember in bearish times, people could get even better deals at auctions, but during 2003-4 (for example), you'd probably have paid a premium in an auction - what's the situation now - are prices going to discounts, flat or dare I say it premiums? (the latter I would find hard to believe). Also now we can track sale prices it should be easier to work out. Is there any difference at auctions in the sub 200k vs. say the 500k properties that are being sold?

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I'm a bear, but have to say that while I can see the clouds very close, in my view it ain't massively raining yet. I still believe we are in the denial phase. So I'm looking for greater clues and was wondering whether any HPCers who are attending auctions can give any guide to how these are unfolding. I remember in bearish times, people could get even better deals at auctions, but during 2003-4 (for example), you'd probably have paid a premium in an auction - what's the situation now - are prices going to discounts, flat or dare I say it premiums? (the latter I would find hard to believe). Also now we can track sale prices it should be easier to work out. Is there any difference at auctions in the sub 200k vs. say the 500k properties that are being sold?

Here are the results from a property auction held on Tuesday 27 Sept in Newcastle upon Tyne, from the auctioneer's point of view they DON'T LOOK GOOD!! Only 37 of the 114 properties having SOLD, that's only 32.4%!! This compares to more than 70% sold at the same auction 12 months ago, PLEASE check the following links;

Pattinson.co.uk - Property Auction 27 Sept 2005

Now check this link for the same auction 12 months earlier 28 Sept 2004 Property STATUS listed as WITHDRAWN I believe signifies that the property SOLD before and outside of the auction.

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Here are the results from a property auction held on Tuesday 27 Sept in Newcastle upon Tyne, from the auctioneer's point of view they DON'T LOOK GOOD!! Only 37 of the 114 properties having SOLD, that's only 32.4%!! This compares to more than 70% sold at the same auction 12 months ago, PLEASE check the following links;

Pattinson.co.uk - Property Auction 27 Sept 2005

Now check this link for the same auction 12 months earlier 28 Sept 2004 Property STATUS listed as WITHDRAWN I believe signifies that the property SOLD before and outside of the auction.

Thanks Neil, that definately appears like a good signal for HPCers.

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Hi All

I went to an auction last week in Swiss Cottage. I was surprised at the level the properties went at. I think that there are still many people who are currently buying at auctions because house prices are so high and they want to save a bit.

Most properties that people might buy to live in for themselves were going for around 5% less than their normal retail value. As soon as sentiment changes these people will dissappear and the auction will become more representitive of the market a few months ahead. We will see.

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  • 302 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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