Who is buying?
The year that Turkish buyers emerged
Overseas buyers have always operated in our market and our database of active subscribers reaches all corners of the globe. The most noticeable change in the profile of overseas investors this year has been the arrival of various buyers from Turkey, alongside the continued presence of South African capital and further buyers from Hong Kong, USA, Singapore, UAE and Cyprus.
There are a small selection of multiple buyers with mixed sources of capital, and we know that they are willing to buy at every auction, given the right stock and price point.
The dominance of the one-off buyers, the vast majority of who tell us that they are keen to buy again, is what makes the auction market so liquid. The efficient process allows most of the sales to exchange in less than three weeks from launch and both buyers and sellers appreciate and value the certainty it provides
For the countless new buyers that do emerge at every auction, many will typically start in their local market and often tell us they are on a journey away from the residential buy-to-let market to the commercial sector.
The Buyers’ Survey we undertake following every auction enables us to engage with them and shows that whilst finance is available, they are predominantly cash buyers who may well finance the sale at a later date, which is encouraging in a falling interest rate environment.
