Savills: Most house buyers do not know about property auctions
www.moneynews.co.uk > Housing market > Savills: Most house buyers do not know about property auctions
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Money News |
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Savills: Most house buyers do not know about property auctions
Thu 2nd Oct 2008
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This is the belief of Lucian Cook, spokesperson for global real estate service provider Savills.
He said that people who are confident about buying at auction should consider the possibility.
Mr Cook stated that if there are large collective auctions being held, then buyers are generally not aware of it.
"It's not on their radar," he said.
The Liberal Democrat Treasury spokesperson, Lord Matthew Oakeshott, has calculated figures relating to property auctions.
He said that the average price of the 3,993 houses sold at auction between June and August this year was £130,400.
This is 23.4 per cent lower than the average price of £170,300 in the same period last year.
Savills, established in 1855, has over 200 offices and associates globally.
This includes the Americas, Asia Pacific, Europe, the Middle East and Africa.
Click here for more mortgage news.
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