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SarahBell

Cash Buyers At Auction

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75% were cash buyers with the remaining 25% reliant upon some degree of finance.

Allsop Residential held its October sale last week (27th) and raised over Ł27.3m from the sale of 173 lots.

This represents a success rate of 82%.

From email - doesn't display well here

REGIONAL ANALYSIS (ALL LOTS)

Regions

Lots Offered Lots Sold Total Raised % Success Av. Lot Size

M25 98 81 Ł18,123,925 82.70% Ł223,752

South-East 40 34 Ł3,629,000 85.0% Ł106,735

South-West 10 7 Ł751,000 70.0% Ł107,286

Midlands & East Anglia 15 11 Ł1,126,000 73.30% Ł102,364

North-East 4 2 Ł52,000 50.0% Ł26,000

North-West 27 20 Ł1,860,000 74.1% Ł93,000

Wales 3 3 Ł959,000 100.0% Ł319,667

Scotland 2 1 Ł15,000 50.0% Ł15,000

Yorkshire & The Humber 8 8 Ł147,500 100.0% Ł18,438

Northern Ireland 5 5 Ł336,000 100.0% Ł67,200

YIELD ANALYSIS

Property Type Lots Offered Lots Sold % Success Yield Av. Lot Size

Regulated 3 2 66.7 4.16 Ł168,000

Assured Shorthold 22 13 59.1 9.29 Ł129,346

Assured 0 - - - -

Ground Rents (80 yrs+) 26 26 100 5.91 Ł30,409

Sites with PP 7 5 71.4 - Ł258,700

Sites without PP 15 10 66.7 - Ł65,650

VACANT UNITS (INDIVIDUAL HOUSES AND FLATS)

Regions

Lots Offered Lots Sold % Success Av. Lot Size

M25 40 32 80.0 Ł256,047

South-East 14 12 85.7 Ł189,542

South-West 4 3 75 Ł92,667

Midlands & East Anglia 6 5 83.3 Ł62,200

North-East 2 2 100 Ł26,000

North-West 12 10 83.3 Ł103,400

Wales 1 1 100 -

Scotland 1 1 100 -

Yorks & The Humber 4 4 100 Ł67,750

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anecdotal: we briefly attended this auction last week to check out how they work. Mrs ticket2ride overheard a properdee pro (of some type) saying that they had a load of stuff they couldnt shift. sadly she couldnt ascertain in what capacity. still cheered us both up though. :)

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anecdotal: we briefly attended this auction last week..

Thanks for the anecdotal.

As you were there, I have a question.

According to the email this auction was "filled to capacity", yet the photo shows loads of empty seats at the front.

So how full was it? Were there lots of people packed in at the back?

If it was "filled to capacity", I can't understand why they don't just ask people to take one of the many empty seats that you can clearly see in the photo.

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I got that today too....isn't 82% about 10% down on their average ?

Edward Mellor sold 40% at auction in Oct.

September

Allsop held their first residential auction for the second half of 2011 yesterday at the Park Lane Hotel, London. In total 293 lots were offered from across the UK, achieving a success rate of 86% and raising approximately Ł40m.

Thursday 26th May 2011

Allsop's Residential auction team brought its total for 2011 to Ł128m last week with a marathon single day sale which raised Ł45m from the sale of 269 lots. The 84% success rate contrasts with an industry average of 67% (Source: EiG).

31st March 2011

Allsop Residential finished the financial year on a positive note last week posting a £35m total and an 85% success rate from its 31st March auction sale. This brings the residential sales total for 2010/11 to £333m

Feb

Allsop's Residential Auction team kicked off 2011 with a £45.5m two day sale on 15th and 17th February posting an 83% success

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Noobie mug punters sit at the front, who want to get the auctioneers attention. THere's no need to of course and you're more vunerable to off the wall bids. The vacancy at the front indicates it's the pros left.

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So how full was it? Were there lots of people packed in at the back?

we observed from the balcony, so didnt see what it was like at the back. but from what I did see most of the chairs were occupied, at least at the start of the auction.

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The vacancy at the front indicates it's the pros left.

Maybe those many would be first time developers we have been seeing for years on "Homes Under the Hammer", are starting to dry up? From what I remember they often sat near the front.

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we observed from the balcony, so didnt see what it was like at the back. but from what I did see most of the chairs were occupied, at least at the start of the auction.

Sounds like auctions are still popular then.

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