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London, 27 July 2011 – Jones Lang LaSalle has released their latest ARAS market update for Q2 based upon auction sales figures from the second quarter of 2011. The report gives a guide as to what may be in store for the remainder of the year and in to 2012.
The key findings from the report include:
• Auction sales rates recovered in Q2 2011 after a slump the previous quarter, up an encouraging 8.6% year-on-year to reach 76.3% • Vendor and purchaser pricing expectations are levelling off. Prime yields continue to hold stable but there has been some softening of secondary values• We expect to see a gradual increase in debt recovery stock enter the room in H2 2011 and in to 2012
Felix Rigg, Partner and Principal Auctioneer at Jones Lang LaSalle said, “The improving success rate amongst auctioneers this quarter is perhaps no surprise, as the first quarter of the year is sometimes a little slow. However, it also shows that the market has achieved a degree of pricing stability which is good news for buyers and sellers alike. “We expect to see further tranches of debt recovery related property during the year – a trend that we expect to see continue well into 2012 as the banks seek to recapitalise. Barring interest rate rises, there appears to be no new onerous factors for the market going forward.”
This report is the latest in our series charting the evolution of the UK's commercial auction market and trends in private sector investment. The report utilises IPD analytics and Jones Lang LaSalle's research capability with data from EIG.
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