Finally the property market is slowing down for Direct Auctions. The last auction, while not attended by many, produced 2 sales and several more interested parties, with still ongoing negotiations in the hopes of closing at least one other deal.

Owners are very flexible where they can be and recognize the combination of the oversupply of stock, over inflation of prices and undersupply of bank liquidity has severealy crippled the market.

Some do not have to sell and can afford to hang on for the forseeable future, others sadly have no option but to get whatever they can rake back in to try and survive these difficult times.

We at Direct Auctions will be officially closed from the 20th December until the January 7th, although we will be taking people to view properties over the Christmas period.

We kick off the auctions in the New Year on March 26th and then June 25th. There will be a limit of 30 lots per auction.

We would like to take this opportunity to wish everyone a very Merry Christmas and a Prosperous and Healthy New Year.