Novice landlords are growing in number as the gloomy economy – and divorce takes its toll, say experts. Research by the National Landlords Association (NLA) has shown that 43 of its members did not buy the first property they let out with the intention of becoming a landlord.
Residential lots with London postcodes, virgin stock, keenly priced small development sites, buildings in need of upgrading and ground rent investments offering long term value, all sold strongly at Andrews and Robertson’s first sale of the autumn.
Pugh & Co’s first autumn auctions raised £8.5m across all four venues – Newcastle, Leeds, Manchester and Liverpool. At Newcastle, a former takeaway on Bow Street, Guisborough was sold at £108,000 – £48,000 above the guide price.
Auction House has become the UK’s number 1 residential property auctioneer, in terms of lots sold.
Eddisons Chartered Surveyors & Auctioneers, who opened an office in Dublin earlier this year, is to stage its first Irish auction. Eddisons is holding the sale of mainly distressed properties on November 15th, in the Shelbourne Hotel, Dublin 2.