Sales at Eddisons’ auctions in Lancashire and Leeds fell dramatically as residential investors became more selective.
Just half of the 119 lots offered at the Leeds auction sold in the room, while 66% were knocked down at Lancashire’s County Cricket Club. Though post sales raised totals slightly, auctioneer Tony Webber said the results “demonstrated a cooling of the market”.
Despite sales totals for both auctions exceeding £10m, the end of the tax year together with A-day’s introduction of pension rules had made buyers more selective than in recent months, he said.
Star performers included vacant land in Bradford with development potential, guided at £5,000, which made £56,000, while a Barclays bank in the city, guided at £180,000 to £200,000, realised £485,000.
