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Commercial Property News
Demand for residential property at auction weakens in face of increased supply
Weaker investor appetite was apparent at last weeks Harman Healy residential property auction, held in Kensington Town Hall, where only 43 of the 70 lots offered from across the country and Northern Ireland found buyers. The 43 properties sold totalled £4,9959,700 and many were repossessions being sold with vacant possession.
The unsold properties were typically flats, where demand was weak, both for London and major city properties. Typically over the past year a lower number of lots have been offered at the monthly Harman Healey sales and the percentage sold would be 73 - 92%. This is reinforcing the view that as supply increases property values will slide back.
The unsold properties were typically flats, where demand was weak, both for London and major city properties. Typically over the past year a lower number of lots have been offered at the monthly Harman Healey sales and the percentage sold would be 73 - 92%. This is reinforcing the view that as supply increases property values will slide back.
Mon, 14th Jun 2010