Whether investing in a standard or more unusual property, the auction house remains a good place to pick up ‘great value’ property, according to Auction provider IAM Sold.
The company has enjoyed a strong start to 2016, with more than 400 properties sold at auctions in March and April, acting as a clear indication that auction, as a viable route to buying and selling, continues to grow.
Some 66% of the 420 properties offered under the hammer by IAM Sold so far this year have been snapped up by property investors, with almost 80% of those sales turning out to be cash sales, reflecting the fact that the property market remains hot for investors despite the introduction of a 3% stamp duty on second homes.
Ben Ridgway (pictured), director of business development & innovation said: “We are delighted that we have smashed our previous sales records two months running and it shows that the work we are doing with our partner agents and our investors is paying dividends. It also shows that the more astute investors are still finding great value in the marketplace.”