The future favours property auctions
The buy-to-let revolution has made property investment available and worthwhile for more and more people. No longer is it the exclusive stronghold of professional players with high net worth and good banking connections.
Nowadays property investment is seen by many as the best hedge against inflation, the safest way to save and the preferred method of building a capital fund to help tide individuals through their retirement years. Experts agree that investment in property makes sense and it is regularly referred to as a private person’s best pension route.
At the same time, a different group of forward thinking individuals are being attracted by the thought of property development. Again, times have changed – the possibility of profitable refurbishment projects is no longer restricted to the specialist builder. Now, many more people are taking on these projects. TV programmes have helped the public’s understanding of the process and pitfalls – but most importantly, they also show the profit potential of being a part-time property developer.
Property auctions are now being featured on popular home improvement and property development TV shows and viewers are realising that more and more first time investors and private developers are attending Auctions to acquire competitively priced property with ease and certainty. The mystique has been removed and confidence has been gained – to a level where as much as 20% of Auction Lots can be sold to private individuals.
Popular programmes such as Channel 4’s Property Ladder, presented by Sarah Beeny, has been instrumental in opening up the field to members of the public who want to make money and indulge their creativity on renovating and refurbishing homes. BBC’s Homes Under the Hammer has also highlighted the simple process of buying and selling at Auction. We are meeting more and more private individuals keen on the process – most see the Auction route as the ideal method of buying a first project.
Auction House Manning Stainton has a wealth of experience for first time and experienced buyers and sellers to tap into. We will be pleased to offer advice on purchases, and our Residential teams can help with the resale process
The future for property auctions is strong. As understanding grows, more and more buyers and sellers will be attracted to it. The arrival of Home Information Packs will add further to its appeal, especially as a good proportion of the properties offered in Auction are likely to be exempt.
It really does pay to investigate “Sale by Auction” if your property fits with any of the styles listed earlier in our Guide. Your chosen estate agent is duty bound to consider this method of sale if your property is appropriate – if he doesn’t, we strongly suggest that you seek our specialist advice.
Auction House Manning Stainton has dedicated, specialist, experienced staff who will be happy to visit your property to determine if Auction is the right route. They may advise you to use an alternative method of sale or to proceed in a different manner. Whichever route you choose, their advice will be balanced, appropriate and above all based on a wealth of experience. We will be selling property buy auction across Leeds , Bradford and Wakefield and West Yorkshire.
