A LIVERPOOL property auction director believes recent government intervention and a decline in interest rates may not be enough to support falling house prices.
Victoria James, from Whitegates Auctions, in Woolton, said although homeowners had been offered a helping hand with mortgage payments by some of the UK's biggest banks, further price falls were expected in the forthcoming months.
She said: “This obviously has ramifications for sellers at auction and reiterates my point that they must be realistic in setting reserve prices.
“Thankfully, this is being adopted much more widely by buyers and sellers alike, and helped push auction receipts at our recent event to £630,000.”
More than 33% of properties sold with further properties expected to sell in the next few days, maintained Ms James.
“Our portfolio of lots has increased by another third this month and we expect this trend in terms of quantity to continue with the next auction at Liverpool Marina next month.”
