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TODAY'S OTHER NEWS

Property remains ‘an excellent investment’

We live in interesting times indeed; who would have predicted at the start of 2016, Britain voting to leave the European Union, Leicester City winning the Premier League title and Donald J. Trump being elected president of the United States of America?

All of this has added complexity to already confused financial markets trying to get to grips with political and economic uncertainty, and yet property remains an excellent investment class, according to one of the country’s leading property auctioneers.

“Despite long periods of national uncertainty and upheaval it has remained the case throughout 2016 that property is an excellent investment,” said James Emson, managing director, Clive Emson Auctions. “Buy-to-let investors seem undeterred by mortgage relief changes and extra stamp duty.”

“Our vendors and purchasers recognise the worth of property,” he added.

Clive Emson sold land and property worth more than £18.5m at its latest five-day sale, which featured 161 lots and achieved a sale rate of 81% during the October/November auction.

Land with planning permission was a popular choice this autumn with builders looking to stock up, “perhaps getting ready for 2017 and the spring markets”, according to Emson.

Commercial lots, whether vacant or let also sold well. The catalogue offered, once again a good selection of garages and ground rents again to competitive bidding.

The property auction expert continued: “As we approach our final sale of the year we can reflect on excellent results for the company.” 

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