We are well into the second quarter for the year and the UK property market is definitely cooling. The London property auctions are still doing business as more and more people turn to property auctions to secure either investment property or a homes for sale.
Although I missed the April post about upcoming property auctions, I am making amends and getting the May property auctions post out right away. If you’re looking for an investment property in London, then property auctions may be the right place for you.
London Property Market Cooling
Give yourself a great opportunity to pick up a property bargain at rock bottom prices. Although things are cooling in the open market and estate agents are feeling the pinch as the number of sales declines, the property auctioneers are still doing bumper business. Why? because investment property buyers relish a market downturn.
I will be looking through the auction catalogues online to see where there may be some ideal investment properties at below market value that may in turn be profitable. If you are searching for a London flat or house to purchase for yourself, then do not despair, there are still opportunities out there. It may be difficult to secure the finance to purchase your property, but if you have managed to scrape together your deposit, you stand a great chance of being able to pick up a bargain.
Property Auctions May
| Savills Residential | 12-May | 10:00 | Royal Garden Hotel, 2 Kensington High Street, London, W8 4PT |
| Savills Commercial | 12-May | 14:00 | Claridges Hotel, Brook Street, London, W1K 4HR |
| McHugh & Co | 14-May | 12:00 | Cafe Royal, 68 Regent Street, London, W1B 5EL |
| Strettons in Assoc. with Edwin Evans | 19-May | 11:00 | New Connaught Rooms, Great Queen Street, London, WC2B 5DA |
| Harman Healy | 20-May | 12:00 | Kensington Town Hall, Hornton Street, London, W8 7NX |
| Barnard Marcus | 21-May | 10:30 | Cafe Royal, 68 Regent Street, London, W1B 5EL |
If you want to know more about buying property at auctions or about investment in the UK property market, visit Property Investment For Beginners where you can learn more.
Even though the property market has dropped over the last 12 months I still think you are going to be hard pushed to find a property bargain at an auction. The problem with auctions is for one there are too many people there, for two, there are high reserves on most of the lots. So even if you did have a situation where you were the only interested party you would have to bid above the reserve price. And three all the best bargains are snapped up by the auctioneers before the auction even starts.