Auction is the realistic way forward for the property market

Toby Limbrick, Director, Network Auctions has stated “Auctions are the most realistic way for properties to transact during the Covid-19 crisis”.

His comments come amidst a wider call on the government to take action to help the stalling property market.

“Despite the Coronavirus outbreak some vendors still need to sell, and we are seeing an increasing number of investors wanting to buy. These are not just seasoned auction professionals, but buyers who can see a longer-term opportunity.”

“In the last seven weeks’ people have had time to adjust their thinking and their practices and those with a ‘can do’ attitude are seeing their businesses flourish. We’ve had valuers collect keys from staffs’ home addresses to carry out surveys, and despite what you read, there are banks who are lending and solicitors who’re keen to work.”

“The online auction environment adheres perfectly to government guidance and is the most viable option for vendors who need to sell in the next few weeks.”

Limbrick’s words come just a week before their second online auction event which has seen a surge in buyer interest and a rapid increase in legal pack downloads.

“As a business we’re having to be agile and change the way we work to suit the market environment. Technology has allowed us to open up the world of buying property at auction to an increased number of people. Even after lockdown, I expect many of these changes to stay – efficient working is what the property market needs!”

Network Auctions next online auction will be held on 21st May and features 34 lots across the UK.

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