UK auction rooms a hive of activity in May ’15

Below are the key points from an article written by John Townsend in this week's free issue of the Estates Gazette. To read it in full click here.

  • The UK's major commercial property auctions raised £103m at the end of March in two days of competitive bidding across all sectors
  • With investor confidence and greater financial fluidity at levels not seen for 8 years, there is a real buzz in the auction room
  • A new audience of first-time elderly buyers was noted thanks to the pension freedom reforms introduced on 6th April
  • Whilst London remains the buyer's favourite location, as much as £30m was raised in regional transactions at Allsop's auction
  • In the last quarter of 2014, the average retail yield in auction compressed from 9.1% to 8.3%
  • The overall IPD UK Retail Property Auction index rose by 10.9% in 2014, outperforming the wider retail property market.
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