22 Jul

Auctions 'offering investor bargains'

Auctions 'offering investor bargains'

Investors are managing to get their hands on bargains by visiting auctions where repossessed options are available, it has been claimed.

The Property Investor Show stated that those wanting to plough their money into the south-east can take advantage of repossession figures, which have boomed by 300 per cent in the last few years.

Managing director of the EI Group David Sanderman argued that the banks and other service providers who have taken on repossessed homes want to generate a quick sale and a therefore not too fussy about the price.

"As a result these properties are selling extremely well compared to other lots, with investors bagging some excellent deals. New build flats are also selling at huge discounts," he commented.

Counties close to London remain popular among property investors, Mr Sanderman added, with 69 per cent of all sold on the day in May from the home counties such as Buckinghamshire and Berkshire.

Phil Spencer writing in the Times recently stated that auctions are the place where investors can get their hands on a number of bargains.ADNFCR-1222-ID-18696367-ADNFCR

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