With owner occupiers frequently detached from Property auction rooms as they are powerless to position the finance essential to full within a month in advance of a sale, property developers are snapping up some desirable bargains as auctioneers keep prices intentionally low.
David Sandeman, managing director of Essential Information Group (EIG), says: "Property Auction UK for Auctioneers are being tremendously alert when it comes to setting the keep price, at which they are jump to let a property be sold.
"If the show price looks attractive, buyers will go next to to sales on the understanding that the keep back price is little more. In fact, keep back and guide prices may be one and the same figure, when a vendor wants to offload as soon as potential."
Information from EIG point to that around 69 per cent of lots going under the mallet are being sold - roughly in line with the long-term standard of just additional than 70 per cent.
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