Auction Properties Sold At 21% Below Value
Property investors seeking out bargain properties and impressive discounts may soon be venturing into the property investment niche of property auctions according to a study by the Halifax.
Reported to be attaining property discounts of as much as 21% below market value, such savings can offer first time buyers the support they need to get onto the property ladder…
And this report closely follows figures released last month which revealed that the division between the price of properties sold at auction versus the rest of the UK property market has greatly narrowed, bringing it to the closest it has been for a decade.
Continuing in their research, the Halifax has also divulged how for the first time in 10 months, property prices have fallen by 1.5% – a change which was closely mirrored in auction prices the month before.
In their last property auction, property portal Zoopla witnessed property discounts of up to 21% off their property investments – 7% less than their January figures which saw property savings of up to 28%!
However, despite these recent property price drops property advisors at Zoopla are confident that improvements in property prices between January and February on properties sold at auction will soon be reflected across the rest of the UK property market.
If history is anything to go by, property auctions traditionally lead the way on property price trends but only time will tell if it will happen…
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Tags: first time buyers, invest in property, property auction, property investment, property investors, property ladder, property market, property portal, property prices
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