The stats are in and its official – the number of lots sold at property auctions in 2011 stood at 24,111, an impressive 9% year on year increase when compared to 2010.
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According to data specialists, Essential Information Group, this was most apparent in Q2 2011, with a 17% increase compared to the same period in 2010. This appetite for auction property purchases was fuelled by the large number of UK house buyers keen to snap up a bargain. This is no surprise. With Brits still feeling the pinch, buyers are more eager than ever to pay less, and with a wide selection of property types on offer it’s no wonder that auctions are so popular.
Sometimes it is wrongly assumed that properties offered at auction are all in need of complete renovation or are situated in less desirable locations. This is far from the truth. Today’s auctions feature a wide variety of property types, ranging from one bed apartments to luxury executive homes in all manner of locations.
To prove our point, take a look at this unique rural home being offered for sale by auction on Wednesday 15th February at The Legacy Plymouth International Hotel.
The peace will, however, be momentarily shattered in February when the leading property auctioneers in the region, Westcountry Property Auctions, bring down the hammer on the 1926 Sampson designed Rock Cottage.