Citation
(2001), "Residential property values", Property Management, Vol. 19 No. 4. https://doi.org/10.1108/pm.2001.11319dab.016
Publisher
:Emerald Group Publishing Limited
Copyright © 2001, MCB UP Limited
Residential property values
Residential property values
Increases in Stamp Duties appear to have had little impact on the residential property market. The latest FOCUS Auction Guide Analysis reveals an increase of 10 per cent in the values of all residential lots sold at auction, from £686,442,003 in 1999, to £756,871,746 in 2000. The number of lots sold in 2000, however, decreased by 243 (2 per cent) from 13,232 in 1999 to 12,989. The rise in values and the decrease in numbers can be attributed to the quality of homes being offered at auction. Mike Logan Wood, Principal Auctioneer at Countrywide Property Auctions, commented:
… the stability of the economy and of interest rates generally, has maintained confidence in both buyers and sellers alike. Property values in London and the South-East continue to grow steadily … the heat has declined but demand is still unsatisfied and I cannot see a reduction in sight …
The FOCUS Analysis also shows an increase in the average value of residential lots by 12.3 per cent from £51,887 to £58,270, with overall success rates having improved from 80.7 per cent to 83.6 per cent.
The Auction Guide Analysis, the established industry benchmark for auctioneers, is enclosed. Full copies of the report are also available from FOCUS on 020 7839 7684 or e-mail sales@focusnet.co.uk