Where are the UK property investment opportunities at auction?
With residential property hitting record-breaking prices, investors are looking to auctions for their next investments.
The latest data from the Office for National Statistics (ONS) shows that average UK house prices hit £283,000 in May, whilst in June the average residential property sale price at auction was £225,385.
With repossessions set to surge 50% as rate rises squeeze households and experts have warned borrowers will struggle to afford higher mortgage payments, almost 4,000 people are at risk of losing their home by the end of July. And with banks keen on quick sales, it's likely many repossessed properties will become available at auction over the forthcoming months.
But where are the property auction opportunities? And how do the average prices differ by location? We take a deeper look at the residential property availability and average prices to help you with your next property investment at auction.
References
eig property auctions @ bit.ly/3A5XSiE
landlord today @ bit.ly/3dgavyz
telegraph @ bit.ly/3zHn11r
reuters@ reut.rs/3dbcxzW
inews @ bit.ly/3QdxSY7
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