Reflecting on 2022 we have seen several different scenarios develop from the heady days of sales prior to listing of January to August 2022 and the more subdued nature of the property market in quarter four. The demand for auctions has remained steady throughout the year although buyers have been more cautious with their bidding approach in the latter half of the year and we see this together with the rise in interest rates, cost of living crisis, energy costs, inflationary pressures and stagnant wage growth in real terms having a negative effect on property values in 2023, whilst raising the demand for a secure sale in a set timeframe for those who wish to sell their property.
That said demand for probate property continues to be high and property auctions remain a popular choice to dispose of these assets in a timely and secure manner for the best price. Given the nature of the uncertain times ahead this could be a particularly attractive option for your clients, coupled with the fact our auctions are FREE to vendor, 2023 this will undoubtedly bring us all opportunities to work together to provide a 5-star property disposal service for our mutual clients.
I encourage all probate practitioners not to think of property auctions as a last resort. There are numerous occasions that we have listed properties all over the UK in 2022 for respective estates and accepted far in excess of published guides and reserves and indeed perceived open market values. We specialise in bringing buyers together in a fully audited, secure online bidding environment. Please do take the time to review our website www.tcpa.co.uk.We truly believe our Online Bidding platform will be a huge asset for the probate world in 2023 and beyond.
Our team have over 70 years of combined experience in the sector and consist of those with legal backgrounds, RICS Chartered Surveyors and Sales orientated professionals
I wish you all a Merry Christmas and a Happy New Year. Please feel free to contact us directly should you wish to discuss any requirements you may have going forward.
Neil McDonald, Chief Executive Officer at Town & Country Property Auctions.
