AUCTIONnews
FINANCE 2012… a year of opportunity!
increase on 2010, with loans on purchases of all sizes from £25,000 to over £1m, averaging at £74,500. This year will create even more
opportunities and they are predicting lending in excess of £25m to property professionals at the auctions.
The popularity of repossessed
Chris Baguley, director at Auction Finance Limited says 2012 will be a year of opportunity for property professionals in the auction rooms. Last year auction rooms
escaped the gloom of the property market and presented investors with amazing opportunities to acquire good quality stock at significantly reduced prices. In 2011 Auction Finance lent more than £17m to buyers in 216 transactions, a 34 per cent
INNOVATION One-stop auction shop
The Modern Method of Auction, introduced to the housing market by iam-sold in 2009, has inspired estate agents to encourage vendors to sell their house through auction.
iam-sold is an auction
management service provider offering bespoke white label auction services to estate agents across the UK. On offer is a full range of auction services ranging from traditional paid entry sales through to the modern method of auction. Partner agents receive a hassle free
54 FEBRUARY 2012 PROPERTYdrum
‘A bespoke white label service for estate agents.’
solution that allows them to offer an in-house auction service with the full support of an iam-sold auction coordinator as well as their own personalised marketing support. 130 agents signed on to work with iam-sold in 2011. The Modern Method of
Auction allows vendors to sell quickly, for the maximum market price, without agency fees. iam-sold also works in
partnership with estate agents to run physical property auctions including the Northern Lincolnshire Property Auction, East Yorkshire Property Auction and the East Midlands Property Auction. Vendors set a minimum reserve price and can log onto the site to see how many watchers and bids their property is receiving, making the sales process completely transparent. The continued auction success prompted iam-sold to launch the Great North Property Auction in October 2011, which works with over 50 interlinked branches throughout the region. This year iam-sold have sold over 600 properties worth over £1,200,000. 2012 starts with the launch the West Yorkshire Property Auction on 21st February 2012 in Bradford. “We have seen the company grow from strength to strength over the past year and will continue to pursue all opportunities in 2012,” commented iam-sold Directors, Jamie Cooke and Ben Ridgway.
www.iamsold.co.uk
stock is a growth area. Sharp investors are making handsome returns by buying ‘repo’ properties; at prices which can often be 60 per cent less than the mortgagor originally paid. As well as one-off purchases
there will be more sales of multiple stocks; the number of new-build property schemes at various stages of completion entering the auction market are likely to increase. Seasoned professionals will make large margins if they select the right schemes in the right
locations. Ex-public sector owned property will also fall into this category as multiple sales of ex MOD homes occur; ideal for investors targeting first-time buyers or key sector workers. Cash rich clients will spread their
money across a number of investments by utilising auction finance, being smart enough to gear up to a sensible level to maximise opportunities. Rental demand sees no sign of slowing down and properties which do well at auction are terraced and traditional semi- detached houses.
Another trend is the rise in parent property investors. With university fees soaring, parents in a position to buy will go to auction to purchase properties to let to their offspring, rather than paying rent.
www.auctionfinance.co.uk
ANNUAL REPORT
Network Auctions 85%
Network Auctions’ last sale of 2011 took place on 7th December at Hatfield House with an
85 per cent success rate as seventeen of the twenty lots, in 14 counties, secured buyers at a combined value of £1.82million. Five were snapped up by
telephone bidders who were able to watch the auction live via the webcast on Network Auctions’ website and results were also posted live on Twitter. The result took Network Auctions’ 2011 success rate to 75 per cent of the lots offered across their six auctions, raising a total just in excess of £19million. The auctioneers have now sold a total of 632 lots since their first auction in September 2005. Network Auctions combine national auctions with a network of local and regional estate agency partners to ensure that sellers get the benefits of local expertise and marketing combined with the strength of a national auction house. Guy Charrison, Chairman of NAVA is a Director of Network Auctions and their auctioneer. The network of partner agents
rose to 26 including a partnership with W1 Network Auctions in Scotland. The first Scottish auction was in Glasgow in November and the first of 2012 will take place this month (February). The main auction venue is also changing, from Hatfield House to the Glaziers Hall overlooking the River Thames in Central London, creating even greater exposure for clients and partner agents. Dates for this year’s auctions
are 7th March, 3rd May, 4th July, 12th September, 1st November and 6th December 2012.
www.networkauctions.co.uk
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