Farming Talk: Auction rooms good places to sell property

The press is filled with information regarding the property market, some of it positive, some of it not quite so optimistic.

But no matter the outlook, the fact remains that things are beginning to improve. Property auctions in particular have been proven to buck the pessimistic trend and provide success for both the vendor and purchaser.

Sales by private treaty and the associated offer acceptance mechanism often means that time begins to drag on.

This is where the beauty of the auction process comes in. It brings potential purchasers to the forefront and the majority of sale is completed within 28 days.

Halls has held four collective property auctions in the last six months, all with a high level of success. Some people may be under the misconception that an auction will suit only a certain type of mediocre residential property, but this couldn't be further from the truth.

Examples of properties successfully sold in our auctions range from an impressive £1.5 million farm to small former pumping station and reservoir sites.

For all properties the bidding was competitive, demonstrating that auctions are the way forward. In the market as a whole, but even more so within an auction, land is in particular demand.

Prices for agricultural land, amenity land and woodland have survived the recession and continue to flourish as the market begins to stabilise.

An auction provides an excellent setting for both purchaser and vendor. The vendor benefits from an environment in which high prices can be obtained and in which a sale will be a short, painless process without any unnecessary timewasting.

The purchaser benefits from the sale being completed within 28 days, with minimal doubt as to whether the purchase will be successful.

The high level of interest in lots and attendance at our property auctions shows that there is demand for all types of property.

Buyers are definitely out there, so now is the time to progress a sale if you are considering selling property.

Stephen Evans Pgd BA (Hons) is a member of the rural professional department at Halls, Shrewsbury