ONE of the newest players in the Merseyside property auction market says recent government intervention and a decline in interest rates may not be enough to support falling house prices.
Victoria James, from Whitegates Auctions, based in Woolton, said that, although homeowners had been offered a helping hand with mortgage payments by some of the UK's biggest banks, further price falls are expected in the forthcoming months.
She added: “This obviously has important ramifications for sellers at auction, and reiterates my point they must be realistic in setting reserve prices.
“Thankfully, this is being adopted much more widely by both buyers and sellers alike, and helped push auction receipts at our recent event to £630,000.
“Our portfolio of lots has increased by another third this month, and we expect this trend in terms of quantity and quality to continue, with the next auction taking place at Liverpool Marina.”
