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Marine site for property auction
Nov 26 2008 by Tony McDonough, Liverpool Daily Post
LIVERPOOL estate agency Whitegates will hold its third auction this Friday at 1pm.
The company will put 29 lots under the hammer at Liverpool Marina and Harbourside Club, in Sefton Street.
One property that is drawing particular attention is Lot 20, a vacant commercial and residential opportunity located at 24, Wellington Road, in Oxton.
It consists of a ground floor commercial unit with residential accommodation on the first and second floors.
THE UK’s leading information source for property auctions, the Essential Information Group, says there has been a dramatic rise in the number of repossessed properties going under the hammer.
Recent figures from the Council of Mortgage Lenders show that repossessions are up 12% for the third quarter of 2008 when compared with the same period last year.
The figures for repossessions being offered at auction have seen a much more dramatic rise, from 1,87 to 2,185 – a rise of 85%.
David Sandeman, managing director of Essential Information Group, said: “The dramatic rise is the combination of two factors, the slowing housing market in the UK and the increasing desire of banks and building societies to liquidate their repossessed stock.”
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