Landwood, a Manchester based Chartered Surveyors and Auctioneers has reported a 300% increase in landlords selling up their property portfolios via Auction Houses. The statistics have been gathered over the last 5 months. Property auctions are an attractive option for landlords looking to swiftly and efficiently sell their properties.

Many landlords have been panicking and selling up during what has been very challenging market conditions during 2023, with the rising costs of rental properties and many new laws being introduced.

The pressure to make properties energy efficient, along with regulation changes to Section 21, has made for a very difficult time in the investment world. Landlords may choose to sell their properties rather than invest in costly energy efficiency upgrades or navigate the complex changes in eviction laws.

Some landlords have been more impulsive in their response to the market and many are putting forward their property portfolios for auction, pushed also with the lack of buy-to-let mortgage products and high interest rates. 

Auction houses can provide landlords with an exit strategy for those investors that want to make the best return on their portfolios in a challenging market;

• Fast sale
• Transparency
• Competitive bidding
• Offer your properties to a wide network of potential purchaser

Is there anything I should be concerned about regarding selling my properties at auction?

Absolutely not. Whilst naturally there may be concerns about loss of control over the sale process, all reputable auction houses provide comprehensive support and guidance, ensuring a smooth sale process. The other main concern that sellers face is the property value and concerns that it will not achieve a fair price via this method, but in actual fact selling by auction attracts a wider pool of purchasers that can generate competitive bidding and indeed even drive up the final sale price.

Just make sure if you do sell via auction that you consider the reviews and reputation, experience in the market and their strategies and success rate.

And the best of luck if you are considering selling up!

If you wish to discuss any aspect of property – why not get in touch with our friendly team.

info@murraypropertyholdings.co.uk