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Wednesday, July 13, 2011

Caution in the auction room

The latest Network Auction residential property sale in Hertfordshire this month achieved a very lowly success rate of only 45%.  This is a stark contrast to their average of 77% as landlords remained on the side lines.

This result perhaps reflection growing caution amongst investors as the property market show every sign of long-term stagnation.  Latest predictions from accountants PWC indicate that house prices may not recover to their peak levels until 2020.  The analysis contained in the UK Economic Outlook report indicate only a 12% chance that real prices will have risen above their 2007 figures by 2015.

No wonder there is an element of caution by landlords in the auction room.

Is it a good time to dive in?  Post your views below.

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