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Prospective buyers to benefit as sellers cut prices at auction

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  • Prospective buyers to benefit as sellers cut prices at auction

    Auction specialist, the Essential Information Group (EIG), has revealed that auctioneers are forcing sellers to slash their prices.The news will no doubt be welcomed by first-time buyers looking for a bargain in the wake of falling property prices.EIG has revealed that an increasing amount of homes are failing to sell at auction resulting in auctioneers [...]

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  • #2
    Auction Prices

    I have been advised that auction prices can now be around 5% under reserve, as opposed to two years ago when they were in some cases 5% above market.
    The general consensus seems to be that this slump will be for another year or two, so no urgency to buy just yet.
    But who knows?

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