An increasing number of property investors are aiming to establish a plan to diversify their portfolios, amidst growing potential and economic uncertainty.
According to the head of a leading network of UK property auctioneers, buy-to-let landlords are looking to include a, ‘wider mix of property types.’
Different property types
Founding director of Auction House, Roger Lake, believes that investors are increasingly looking to put money into in all kinds of property, if they can afford to do so.
Lake notes that demand for commercial property is particularly strong at present.
‘Auction prices have rebalanced since the referendum result and buyers are now actively seeking opportunities. Demand for commercial lots has increased too, as more investors look to spread their risk over a wider mix of property types,’ Lake observed.
Investors are looking at different property types amidst uncertainty
Auction House has seen sales this year reach 2,873 lots to the end of November. This is at a success rate of 77%, raising a total of £387m.
Mr Lake said: ‘Supply has returned to normal levels over much of the country although the South East remains a challenge.’
The group has seen a record number of lots entered into its auctions during the last month, with 25 auctions taking place between 1st-15th December.
Lake noted: ‘Our northern sale rooms will be particularly busy. We have an impressive 86 lots entered into our newly-launched Auction House North West sale at Bolton’s Macron Stadium, as well as 55 in our West Yorkshire auction and 101 in our latest Cumbria/North East catalogue.’
‘As a result, we have a wide range of pre-Christmas bargains being offered and are expecting well-attended auction rooms and enthusiastic bidding,’ he concluded.
If you are thinking of buying a property at auction, make sure you read this handy guide before you commit!