With ongoing evidence that the London and South East markets may already be undergoing a correction phase, it is always worth observing behaviour in the property auction room to gauge where things stand amongst investors and traders. We spoke to Gary Murphy – partner at one of the UK’s largest property auctioneers Allsop – shortly after their mid-February sale (the first of 2018)… As it’s now possible to watch Allsop’s auctions live online, it was interesting to see that there was a healthy level of sales happening in the room? Yes, we were all quite surprised at how buoyant and vibrant the room was – particularly as there has been lot of concern about certain areas of the market cooling off. The enthusiasm for buying decent stock in the London and South East has not waned. I must say we … [Read More]
With 33 boroughs across the capital (59.9%) voting to remain in the EU, the result has sent some jitters amongst London investors – particularly in light of the ensuing political and economic uncertainty. Nonetheless, whilst the true effects of Brexit are hard to frame at the time of writing, investors may well be able to find interesting opportunities amongst a more subdued marketplace, the likely continuation of low interest borrowing, the possibility of lower Corporation Tax and (possibly) a more favourable operational environment for landlords. On this very topic we were very pleased to be able to interview Gary Murphy (@GaryCMurphy) from prominent auction house Allsop: In your view, what are likely to be the predominant post-referendum shocks to the London auction market over the remainder of 2016? Our commercial auction sale on 5 July was the first large post-Brexit auction. Despite movements in other markets, it was … [Read More]
Please see an interview with Gary Murphy of Allsop – one of the leading auction houses in the country – where we discuss recent sales patterns; the popularity of auction buying; impending base rate rises; auction stock level predictions; getting the best deal possible in the current market; dealing with negative equity; placing the right guide price when selling; conditions of sale and recent emerging issues that investors should be aware of.
With a UK property market considered to be at one of its relative lowest points for decades, the hunger for investors to build their portfolios is ever-apparent. One potential acquisition strategy – that is often overlooked due to perceived misconceptions – is to look into properties that have been left empty by previous owners. Please see an interview below with David Ireland of the Empty Homes Agency with whom we discussed current levels of empty properties in the UK; the effects of the recession on the situation; the housing deficit; the government’s response; what steps can be taken to investigate an empty home; seeking legal advice; available grants for renovating empty properties; getting advice from local authorities; the organisations’ campaign for council tax relief as well as a very worthwhile conference worth attending on May 23rd.
The first in a series of interviews, articles and blog posts on buying UK property at auction.