Thursday, 09 February 2012

Stock sales fall to pitiful lows

12/02/2010

The amount of social housing stock sold at auction fell dramatically last month, with just 10 properties going under the hammer, according to the latest monthly figures from Essential Information Group.

EIG - which collates data from all auctions across the UK - revealed that just nine homes were sold for a total of £2.6 million, compared with the £26.7 million raised the previous month.

Camden Council was the only local authority to offload housing stock at auction, selling two of the three properties made available for £646,000. The figure marks a shift for the borough after it raised more than any other social landlord the previous month, selling seven properties for £2.2 million.

Hyde was the biggest housing association seller, offloading both of the properties it made available for a total of £858,000.

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