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Auction Results Today-nationwide

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table courtesy of jock1967:figures courtesy,mainly sledgehead.Thanks to everyone who helped and as ever M21er for setting the thread up.analysis below

Jock1967

Final Results: (any mistakes are probably mine!)

And now with the % change:

Lot Previous Price Date sold Today’s price Profit/Loss % change

18 75k 02/04 72k -3k -4

21 245k 12/06 us168k -77k -31

22 235k 04/07 us164k -71k -30

<snip>

-23k -26

135 86k 12/04 us102k 16k 19

136 55k 07/03 us65k 10k 18

T Reaper

I have included all unsolds as they did not make the reserve but would

have sold otherwise.There were 13 'no bids' which is something we've not seen

much of before at all.We did miss some out but the figures speak for themselves.

Year No. Nominal gain/loss Percentage gain/loss

2007 4 -45k -28.75%

2006 20 -36.5k -21.98%

2005 7 -15.4k -11.4%

2004 9 -11.2k -2.7%

2003 5 -2.1k 2.8%

2002 2 34.75k 89.5%

2001 4 28.6k 50.25

2000 2 58.5 100.5%

Obviously there are issues with sample size but the geographical spread was

countrywide and the trends seem clear to me.The 'no bids' actually represent a

factor that would have dragged these averages down further.

Stunning! Great work. So we are back to June 2003 prices are we not!

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Stunning! Great work. So we are back to June 2003 prices are we not!

We are there in the auction world, just got to get the rest of the selling numpties out there to get the message! But as we all know, getting someone to admit a drop/loss of 25%+ is going to take some doing.... but, we can bide our time.

A step in the right direction though. Property Bee is highlighting some encouraging, if small, moves in prices in the Reading area.

Frank

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'Stunning! Great work. So we are back to June 2003 prices are we not!'

I would say we are.The no bids today were significant.we tracked 53 sales so 13/66 is a high proportion to not even get a sly

£40k bid.There is very little specualtive money out there obviously,no BTL,no Beenywannabes etc

what got me was the figures for 2006,sample of 20 down 21%.and the figures for the other years form a nice curve either side.so if you bought last year and need to sell,it's a 30% haircut.

the wider market will follow not far behind.this was a bad day at the races

I'm sure, on the way down, auction prices lead and estate agent sales will have to follow. Otherwise EA business will fall to near zero.

Also these are nominal prices. In real terms, averaged over the country, these prices are no higher than those of mid 2002 in fact.

We should keep monitoring auctions to confirm this picture.

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Does anyone know;

(1) what type of lender will auction rather than pursist with an estate agent sale (or is an auction a result of long time no interest in the property marketed by the EA)?

(2) if auctions fail to seel the property, does the lender remove the reserve price and try again or do they chuck it back to the EA with a wider remit to sell as best they can?

(3) if no bids are attracted, what does the lender do? (again or do they chuck it back to the EA with a wider remit to sell as best they can?)

I never really paid much attention to reposessions last crash, the EAs were initially shy to reveal it was a reposession but as the crash went on the adverts became clearer as the depseration increased.

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  • 294 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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