UK homes sold at auction at 3 year low
Published March 4th, 2008
The number of homes being sold at auctions in Britain has fallen to a three-year low, say the RICS.
Just 57 per cent of properties that were put up for auction during the final three months of 2007 sold, compared with 69 per cent during the same period of 2006, according to the Royal Institution of Chartered Surveyors.
The group said a total of 7,732 properties went to auction during the fourth quarter, close to historically high levels. But just 4,539 of these sold, leaving 3,310 unsold - 50 per cent more than a year earlier.
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