Further reading
Buying a property with planning permission at auction can be advantageous
Why is it so important to use EIG to search whether a property has been to auction before
Today, we witnessed the 14th rise in UK interest rates, the highest rate in 15 years, bringing it from 5% to 5.25%. This smaller increase comes amidst signs that persistently high inflation is starting to ease.
Recently, Nationwide reported a significant decline in annual property values by 3.8% in July, making it the sharpest fall since July 2009. According to the building society, the average home is now worth £260,828, which is a decrease of 0.2% compared to the previous month and a 4.5% decline from the peak recorded in August 2022.
In our July newsletter, we observed a notable 20.1% increase in lots offered at auctions. Could this be attributed to landlords still trying to sell off their tenanted properties due to the interest hikes? Or is there another reason driving such a substantial rise in the number of lots?
Keep an eye out for our next Q3 Auction Report, scheduled for release on September 1st, as we delve into these numbers and analyse the situation further. View our previous Q2 report here.
Essential Information Group - News and Information
Keep up to date with our latest news, case studies and what's going on in the property auction industry on our blog.
Buying at auction
20/03/2025
Why the Property Auction Market is Booming Due to Stamp Duty Changes
The UK property auction market is experiencing a surge in activity in March 2025, driven primarily by impending changes to stamp duty regulations
Buying at auction
27/02/2025
Who Can Benefit from Buying a Property at a UK Property Auction?
Buying a property at a UK property auction can be advantageous for various buyers depending on their financial situation and goals. Auctions often offer unique opportunities, discounted properties, and a fast purchase process. Here’s who can benefit the most.
Buying at auction
24/02/2025
Bridging Loans Explained: A Guide for Property Auction Buyers
A bridging loan is a short-term financing solution, typically lasting up to 12 months. It provides immediate funds to bridge the gap between purchasing a property and securing long-term financing.