Cut-price residential lots sold well and provided a solid base at last Thursday’s Eddisons property auction in Leeds.
A success rate of 66% was unspectacular but reassuring in a market where buyers are uncertain about where property values are heading. The sale raised £2.4m.
Andrew Brown, Eddisons auctioneer, said: ‘Once again it was the residential lots which attracted the most interest which is clearly where buyers see the best value. Whilst the figures in no way suggest a turnaround in the market it does indicate that at the right price there is still money out there which buyers are prepared to part with.’
80% resi sales
He said that the revised expectation of vendors, particularly in the residential sector, ensured a number of lots were offered well under current market value and therefore priced to sell. 80% of the residential lots on offer sold.
