Auction property sales up 17% in July

The number of residential properties being sold at auction was up 17% year-on-year in July according to the Essential Information Group (EI Group). EI Group says the number of residential lots offered over the month was up 8%, rising from 2,874 last July to 3,105 over the same period this year. Of these, auctioneers sold 2,334 residential lots in July which was up 17% on the 1,994 seen in July 2012. David Sandeman, managing director of EI Group, says: “I am pleased to report on another strong set of results in a month which saw almost 4,000 lots go under the hammer. Over £467 million worth of property was knocked down (sold), up 25% on July 2012, and the 2.932 lots sold is the highest number recorded in July since 2007.” Trinity Financial has recently arranged  a number of mortgages for clients buying at auction. We appreciate that it is important mortgage offers are produced quickly and efficiently if you are buying a property in this way. Call us on 020 7016 0790 to see how we can help. August 19, 2013