Thursday, 23 July 2009

More properties ‘Must be sold’ under the hammer

If you’re looking for a quick purchase or sale then auctions offer an ideal way to exchange and you can now snap up homes at prices of a decade ago at our next auction event.

In the UK, property sales take on average 14-16 weeks to complete but many of those who buy at the next auction will complete the sale within just a few weeks. The process is very fast-moving and that is why our auctions are becoming increasingly popular with people looking to get on the property ladder, upgrade their home, or build up a buy-to-let portfolio.

In this credit crunch environment, people are keen to hunt out a bargain and snap up these homes at prices of a decade ago. Prices in the auction room accurately reflect the current housing market and are an up-to-date indicator of credit crunch property prices. This allows both buyers and vendors to exchange at a fair cost.

Properties up for grabs on 22 July include two-bedroom terraced houses in Lancashire for just £18,000, a three-bedroom semi-detached house in Coventry for just £50,000, and potential development land equating to approximately .0164 acres in Gwent. Full details can be viewed on the website
The next auction begins at 1.00pm on 22 July 2009 at the Hilton London Metropole, London. auctions offer the opportunity to watch the auction live online so those that are unable to attend are still able to monitor the bidding in real time. Please see for more details.

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Monday, 6 July 2009

Falling rents create a tenants’ market

As the lettings market continues to favour tenants, there are more properties than ever to choose from, forcing rents down.

Because of the increase in choice, we are encouraging landlords to ask for realistic rents which reflect the market, reducing rent by 5-10% in some cases.

In our experience, landlords have been very receptive to this advice. They would rather drop the rent and fill the property than hold out for a higher rent and it remain empty.

The picture does fluctuate across the UK. Where landlords are starting to sell, the pendulum is swinging back, keeping rental income strong where the amount of available stock is reduced. However, for many, renting out property is still a quick-fix solution for private owners who are struggling to sell in the current market or for developers who are waiting for the market to pick up.

Whilst the current market conditions lend themselves to tenants, it is certainly not all doom and gloom for landlords, helped by lower mortgage rates. The key for landlords is to learn how to work with the current conditions and always be one step ahead of the market.

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