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martinipaul

Isle Of Wight

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Well, very interesting auction this afternoon on the Isle of Wight. Around 100 people in the room but virtually no one bidding!

See http://www.cliveemson.co.uk

LOT 137 withdrawn – legal issue

LOT 138 guide 180-190k, no bids at 160k

LOT 139 sold prior

LOT 140 guide 330-350k, no bids at 280k

LOT 141 guide 350-370k, bid at 340k but no sale

LOT 142 guide 185-195k, no bids at £160k

LOT 143 guide 170-180k, bid at £170k but no sale

LOT 144 guide 450k+, no bids at £430k

LOT 145 guide 125-135k, bid at 100k but no sale

LOT 146 guide 80-90k, sold at 84k

LOT 147guide 170-180k, no bids

LOT 148 guide 220-230k, no bids at 200k

So only one lot sold out of 10!

A lot of property market 'ramping' talk from the auctioneer (Clive Emson himself) prior, but then a couple of comments 4 lots in with virtually zero bidding:

“This is like ‘89”

And turning to his colleague, “you’re buying dinner tonight, I’ve lost a fortune”

:blink:

Edited by martinipaul

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Well, very interesting auction this afternoon on the Isle of Wight. Around 100 people in the room but virtually no one bidding!

“This is like ‘89”

And turning to his colleague, “you’re buying dinner tonight, I’ve lost a fortune”

:blink:

According to Rightmove they should be flying off the shelves. :lol::lol::lol:

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Well, very interesting auction this afternoon on the Isle of Wight. Around 100 people in the room but virtually no one bidding!

See http://www.cliveemson.co.uk

LOT 137 withdrawn – legal issue

LOT 138 guide 180-190k, no bids at 160k

LOT 139 sold prior

LOT 140 guide 330-350k, no bids at 280k

LOT 141 guide 350-370k, bid at 340k but no sale

LOT 142 guide 185-195k, no bids at £160k

LOT 143 guide 170-180k, bid at £170k but no sale

LOT 144 guide 450k+, no bids at £430k

LOT 145 guide 125-135k, bid at 100k but no sale

LOT 146 guide 80-90k, sold at 84k

LOT 147guide 170-180k, no bids

LOT 148 guide 220-230k, no bids at 200k

So only one lot sold out of 10!

A lot of property market 'ramping' talk from the auctioneer (Clive Emson himself) prior, but then a couple of comments 4 lots in with virtually zero bidding:

“This is like ‘89”

And turning to his colleague, “you’re buying dinner tonight, I’ve lost a fortune”

:blink:

I take it they normally do better than that then....?

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I take it they normally do better than that then....?

sales at around 30% over the guide price have been typical over the past 5 years or so, reserve prices aren't disclosed but are typically set at or slightly above the guide price

It's just that there was so little bidding activity - not even bids well below guide to 'get things going' it was quite a shocker

:)

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the reason no-one is buying is becuase you can get a free room at one of the prisons for the criminally insane there.why pay for something when you can get it for free.

and no council tax

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But Rightmove says average asking price is £200k

If these investors are refusing to pay over the odds, imagine what the FTB is thinking

Roll on HPC

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the economy is heavily dependent on seasonal tourism.

less so now (I grew up in a family run hotel), tourism is in decline now on the Island, property development and speculation have taken over big time, unfortunately this has been well supported by second home owners.

As you say the locals are really struggling due to poor / non existent local wages

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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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