Report a Fault Allsop’s February auction produced a success rate of 70% compared with 80% in December
In October Allsop commented that confidence among seasoned investors appeared to be waning, whilst demand from new investors had increased. This is a trend which appears to be continuing as Allsop estimated 80% of this month’s sales were to new investors, with one bank achieveing almost exactly the same price as it had at the top of the market in July 2007 – perhaps the ‘old hands’ are anticipating an increase in interest rates later in the year.
In terms of price, the average price/yield on 10 bank investments was £991,500 & 5.94% compared with £691,321 & 5.45% in December, whilst the sale of more secondary lots was ‘increasingly challenging’.
