The auction market – now and 2010

By Peter Hornor, auctioneer and chartered surveyor with Brown & Co

peter hornor newIt is good news to say that the market still appears to be active despite the time of the year and the economic outlook. The second half of this year has been more active than any of us could have expected at the beginning of the year with all the turmoil we experienced then. This has been particularly the case with our auction house and we have seen an increasingly wide variety of properties come under the hammer over the last year to 18 months, many of the results of which have exceeded our expectations.W e are currently very busy dealing with enquiries for our forthcoming sale, arranging viewings, dealing with enquiries from prospective purchasers and the wide variety of lots has certainly generated a great deal of interest which is encouraging. Particular interest is coming from investment buyers looking to acquire properties capable of generating an income; presumably this is due to the low level of interest rates currently on offer in the banks and building societies. All of our lots though are receiving interest and we hope for a successful sale in December. All the indicators are that things can only get better but with a General Election looming it is far too dangerous to be absolutely certain about what will happen in the short to medium term. For those people looking to achieve a result and a satisfactory price we are certain that this method of sale will continue to spread and we look forward to helping people further with their enquiries.

*Peter Hornor is on 01603 598238.

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