• From This is Money:

    ‘In May 2008, a flat in Catford, South-East London, was sold on behalf of receivers for £130,000,’ says David Sandeman of Essential Information Group, which monitors the UK auction market. ‘Just four months later it sold privately for £225,000 – a profit of £95,000 or 73 per cent.’
    A repossessed terrace house outside Guildford, Surrey, sold in September 2007 for £203,000 and again seven months later for £280,000 – returning a profit of almost 40%.
    ‘The market changed radically in a very short time. Properties were put into auctions and they had to be sold, but there were very few buyers so they were able to get a bargain,’ says Sandeman. ‘That’s not always the case. In fact, recently some properties have fetched more at auction than through an estate agent.’
    The biggest profit was in Burnley, Lancashire, where a terrace house sold in January last year for £41,500 and again less than 12 weeks later for £79,950, a profit of 93%. Bargains…

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    Posted by Jon @ 3:50 pm

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