Are we at a stage where it's worth looking again at investing in the purchase of houses for renovation/reselling?

I sat in on a property auction at the end of April this year. Most properties (mainly houses, cottages, smallholdings and pubs) did sell (ie, reached or exceeded reserve) except pubs, which remained unloved unless suited to immediate conversion, but nobody was bidding strongly above the published guide prices. The room was packed (about 125 people), but quite a few of those who were registered to bid (ie were holding a numbered card) held back from doing so.

I'm not quite ready to be buying anything myself, but I have viewed a few places in the past few weeks, and will probably be sitting in on an auction coming up at the end of the month, just to get a further feel for how things are going as we head into autumn.

On my patch (southwest Wales) the agent most heavily involved in auctions is John Francis - and it will be one of their two auctions (at Carmarthen on Sep 30 or Swansea on Oct 1) that I'll be attending. (Or maybe both). There's about 15 properties listed so far at each. The agent's website for these auctions is www.johnfrancis.co.uk/auctionnew.htm

I've viewed the 65k semi in Cardigan (selling at Carmarthen) and the 50k detached one at Brynamman (selling at Swansea) - and it's that latter one which seems to have the greatest potential markup margin, so I shall probably be seeing how that one does - though it's not in the right locality for me - I'm going to be looking to buy somewhere around the central english/welsh borders next spring/summer. Does anyone here have any guidance on which agents to check out for auctions in that area? And any info on particular properties suitable for renovation there?

I will post the outcome of these two auctions on my patch, just out of interest - to see how things went compared with whatever guide prices appear in their catalogue.

Let us know of investment opportunities at other upcoming auctions, and how they pan out over the coming months.

I am looking at this property - Ditton, Kent

It was sold as a new build in Feb 2008 for 189,000. It has been for sale with Ward Partners for 154,950 and is now going to auction with a guide price of 100,000

Looks interesting. I don't know what aylesford is like these days, but I used to go to the Little Gem - the smallest pub in Kent.

Recent Allsop auction results.

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Harman Healy Auction today was a poor result

Auction Date Wednesday, 7 December 2011
Venue Kensington Town Hall, Hornton Street, London, W8 7NX
Start Time 12:00
Lots Offered 76
Lots Sold Prior 20
Lots Sold in Room 21
Total Lots Sold 41
Percent Sold 54%
Total Raised 3,531,751


Date Lots Offered Percent Sold Total Raised
7 December 2011 76 54% 3,531,751
3 November 2011 61 74% 2,787,501
6 October 2011 81 67% 5,449,950
11 August 2011 71 81% 6,447,360
7 July 2011 50 84% 4,851,800

Wednesday, April 04, 2012
Allsop auction - amazing yields

Amazing residential yields were generated in the latest residential auction held by Allsop last week. Of the 32 Assured Shorthold Tenanted properties sold the average yield worked out at a massive 11%.

Inside the M25 that was 6.82% whilst outside the M25 sales hit a stonking 13.3% yield.

Who says there is not value out there in the residential investment market. Mind you one problem. You need to be able to access finance.

No wonga no property. It's that simple.

Top Ten Buy to Let Hotspots

Interesting Jeff - amazing to think how different Southwark is since I was a kid.

When I come in to London by train you see all the new apartments going up alongside the rail lines around the St James Road area. I tried to buy an ex council flat at auction on the Neckinger Estate but it went for more than I wanted to pay.

I used to live on Silwood Estate, now all gone and rebuilt with new flats.

I haven't been over that way since the 1970's - but I used to go to a tropical fish shop and a pie and mash shop in Southwark Park road.

I drove down the Old Kent road about 10 years ago and couldn't believe how much it had changed - but I guess that's true of a lot of older areas.

I used to go to same tropical fish shop, might still be there.

Something like Pacific Aquaria - an old boy, "Alf" used to be the owner?