Jump to content
House Price Crash Forum
Sign in to follow this  

Value Of Homes Sold At Auction Plummet 17 Per Cent

Recommended Posts


According to research by Liberal Democrat Treasury spokesperson Lord Oakeshott, the average value of houses sold at auction between March and May was 17 per cent lower than during the same period last year.

The figures, based on the sale price of 4,748 properties from around the UK, showed a fall from an average of £169,200 to £140,500.

The annual price fall accelerated to 18.5 per cent in May.

Between March and May 57 per cent of all properties offered at auction were sold, raising £667m against a sale rate of 74 per cent the year before.

Lord Oakeshott said: "Auctions are the sharp end of the housing market where real deals show the prices paid by real buyers. The published house price indices are well behind the game.

"Property professionals are pricing in a 16.5 per cent fall in the Halifax House Price Index over the next year and 26.5 per cent over the next three years.

"Ministers must wake up now and let housing associations and councils buy empty homes for social housing to rent."

At what point during the last crash did 'government' (various levels) come in and by up property for social housing setting a market price ?

Or did this not happen ?

Edited by Ash4781

Share this post

Link to post
Share on other sites

Makes you laugh how they dress this up as “research by Liberal Democrat Treasury spokesperson Lord Oakeshott”. Someone went to this page and punched in a few numbers from the second table down (the blue one).

Oh, and it looks like they got it wrong. By my calcs the drop is from £174,031 (£1,028,525,970/5910) not £169,200, so it's actually worse than stated. The fall is 19.3%, not 17%.

Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 401 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%

  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.