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.
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Property Auction Finance is short-term finance used to purchase property at auction, including: uninhabitable properties, doer-upper's, short-lease, refurbs, flips, buy-to-lets (BTLs), conversions, renovations, development, land & commercial opportunities. It enables investors to take advantage of below market value (BMV) properties being sold at auction providing the finance to complete purchases within the 28-day limit.Discover More