LATEST LOVEITTS AUCTION REVEALS THERE TRULY IS SOMETHING FOR EVERYONE AS FIRST TIME AUCTION BUYERS ON THE INCREASE
A recent survey conducted by one of Coventry and Warwickshire’s leading estate agents has revealed that an increasing amount of first time auction buyers are attending their bi-monthly auctions as Coventry continues to be an attractive investment location.
Loveitts, who have offices in Coventry, Leamington Spa and Nuneaton have consistently attracted high numbers to their ever-popular auctions with a record number of prospective buyers attending Loveitts’ first auction of the calendar year.
Held at the Village Hotel, Coventry, the auction room was packed with over 400 budding buyers all with one goal in mind - to bag themselves a bargain.
Prospective buyers at the auction also included a number of experienced auction-goers, some of whom were from outside of the Coventry and Warwickshire region.
Investors from as far afield as London attended on the night with the wide variety of properties and land opportunities up for grabs proving to be a huge attraction for potential buyers.
Experts at Loveitts believe the competitive property prices and the high yield opportunities from the lots on offer are a huge draw to outside investors, making the Coventry and Warwickshire area a highly sought after location.
With great transport links to London, Birmingham and the North, two universities nearby and with Birmingham airport in close proximity, Coventry is fast becoming a location of choice for homeowners and investors alike.
According to the Loveitts survey, the number of first time auction buyers attending their most recent February auction has also increased since their auction in early December.
The popularity of auctions has grown substantially over the last year with more vendors opting for this method of selling and buying properties.
Findings from the survey have suggested that auction continues to become an increasingly conventional route to purchasing a property due to their ease and the price competitiveness of the lots on offer.
Loveitts Director and Auctioneer Sally Smith commented: “The number of people who have been attending our auctions signals a growing confidence amongst vendors opting to sell their house by auction rather than the traditional route. We have had a good start to the year having had some record breaking auctions last year.
“The fact our most recent auction had a bumper attendance demonstrates their increasing popularity, not only amongst local people but with those from outside of the Coventry and Warwickshire region
“Coventry and Warwickshire is becoming one of the most sought after locations in the UK for investors and the rise in investors from outside the area attending our auctions confirms this.
“We always ensure that there is something for everyone in our auctions by offering a range of properties that are suited to the needs of our vendors.”
The next Loveitts auction will take place on Thursday 21st March at the Village Urban Resort, Canley, Coventry at 6:30pm.
Loveitts, which is Coventry’s only local auctioneer, is unique as it specialises in properties and land only across Coventry and Warwickshire.
Loveitts is one of Coventry and Warwickshire’s longest established estate agents. Established in 1843, it is now the largest independent multi-discipline practice of estate agents, chartered surveyors, valuers and auctioneers in the region.