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Looks like the BTL HUTH boys are reducing by the price of the extra SDLT (3%) and the auctioneers are not factoring it into the price. Last 10 lots unsold.

Edited by GreenDevil

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At the Graham Penny Nottingham one,19/32 unsold.

16/26 unsold in London.

Must be the train fares pushing house prices out of reach of HUTH fans.

Edited by Sancho Panza

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Gonna be a few auctions houses going out of business.

looking at those numbers for graham penny in the midlands,then maybe so.they're abysmal.

They'll consolidate particularly if the prices weaken and commissions drop.

As with EA's they need transactions.

Could be there's an abscence of BTL buyers now?Just suggesting,I wasn't there.

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In the old days we had a couple of regulars-M21er and Tommy boy that used to run some software that tracked the auction results.

They tend to lead the market at the bottom end.

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looking at those numbers for graham penny in the midlands,then maybe so.they're abysmal.

They'll consolidate particularly if the prices weaken and commissions drop.

As with EA's they need transactions.

Could be there's an abscence of BTL buyers now?Just suggesting,I wasn't there.

I'll hopefully get along to a local(Liverpool) one in the next couple of months. I attended one prior to the 3% hike(although after the policy was announced) so the comparison will be interesting.

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3% is well short ?

I rememebr 50% short and nothing selling

Give it time.... There is still cheap money available as the banks drag in the last few punters...

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I'll hopefully get along to a local(Liverpool) one in the next couple of months. I attended one prior to the 3% hike(although after the policy was announced) so the comparison will be interesting.

I remember the old auction threads and found them fascinating as they are the real 'cash' market for housing.

Report back if you do go.

Edited by Sancho Panza

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Sales are well down the price achieved for the sold seem to be down also ,in my neck of the woods S Wales

Then i look at the bottom end of the market via rightmove and i see loads of BTL selling up ...they are selling and they have stopped buying

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Gonna be a few auctions houses going out of business.

Ironically I cannot think of a worse time for them than now.

Prices going crazy > Auction a good way to get the top dollar

Prices collapsed and lots of repossessions > Auction the only way to find the value and clear out the stock.

now what we have now with 0.5 rates and a dearth of property for sale due to that rate and bank forbearance......terrible for them

I remember a commercial auction CBRE closed and they even said on their site we expected lots of stock but after the bailouts etc it did not materialise.

My local Auctioneer is a HPC'er in his point of view an knows his stuff but I have noticed that he must be getting desperate as a few lots in this next auction are simply listed at the price you would expect to find in an agents window.

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Important point when you sale 'Not Sold'

Were there any bids and the property failed to reach reserve, or no bids at all?

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