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  • Auction Tribe

    Massive sell off of BTL properties at auction



    Auction House, which works with a network of local agents, has a record 846 lots entered into its sales this month.

    The boost is largely from buy-to-let landlords selling off their properties.

    In its 12-year history, Auction House has not had a month like it.

    Full/source story 

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    [Image: 4995468760_6be86655d4_t.jpg]
    general operations director, site owner and moderator - propertytribes.com

    But now this in the Times ... :

    The number of British landlords selling their properties is falling, according to new figures that suggest George Osborne’s punitive tax changes might no longer be putting investors off the industry.

    An analysis carried out for The Times shows that the percentage of properties being sold by investors, compared with all homes, is at its lowest level since before 2015.

    Full/source article 

    ​Who to believe?!

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    My take:

    "846 lots entered into auction this month"- fact. 

    "The boost is largely from buy-to-let landlords selling off their properties." - subjective.

    "In its 12-year history, Auction House has not had a month like it." - fact.

    "new figures ... suggest George Osborne’s punitive tax changes might no longer be putting investors off the industry." - subjective.

    "An analysis carried out for The Times" - probably involves an agenda...

    -----

    Seems to me that the only info we can rely on is the fact that more houses have been put on auction this month than at any other time in Auction House's 12 year history.

    Deals to be had!

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    If the auction house has had 845 submissions then they have never had a month like it: 'lies, damn lies and statistics' Always wary of anyone with a vested interest publishing data.

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    I had a look through the top 2 auctions on their list and there was the usual fodder on there including mixed use, land, storage etc so not sure where all the BTL was as I didn't spot any that were let out? Lots of properties that COULD be let out as a BTL, but that's the same as any auction?

    There were 11 auctions listed for September so c. 70 properties per auction, so not sure what the excitement is about other than AH might be the biggest auctioneer for property in the UK now? Maybe sellers are bored of waiting months with normal EA's and moving to auctions in higher numbers now to move the properties on quicker?
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    If anyone has any genuinely useful numbers on this it would be really interesting. Anecdotally, I know 5 people that let property 6 if you include me & 1 is considering selling due to section 24.

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    HI All


    Ive looked at a couple at auction.. Interestingly the two ive looked at have been buyer pays costs. is this new/ If so why wouldnt you not take the punt at an auction?



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    In my area (thanet) there is a considerable amount of ex btl  ( and a few ex hmo’s) listed on rightmove etc, mostly at the lower end of the market  ( lha and just above) , not much of it goes to auction. Whether the properties that are marketed actually sell or just quietly go back into the rented sector i’m not sure. Local landlords aren’t buying (at least the ones i know) it would’nt surprise me if some larger companies were not picking up some of the better units with a view to the long term.
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