The commercial real estate auction market in Britain has enjoyed unprecedented success since the mid 1990’s. During this time auction sales have increased from £148m in 1995 to £1348m in 2007. This success was achieved in tandem with the growth of the commercial real estate sector at that time. The growth in auctions was fuelled by the increased appetite that investors had for commercial real estate, while the auction room provided a forum in which investors could trade in a quick and efficient transaction, compared with private treaty which is the market norm. The research considers the buyers that are active within the auction room and offers a classification of them. It identifies the ‘key players’ within the industry and reports on a series of in-depth interviews that establishes the factors that will maintain auction sustainability. For example, issues surrounding the adaptation of new technologies by the industry, the provision of a greater knowledge of auctions to the public and property professionals, and addressing the emergence of the private investor in the auction room. These ‘key players’ offered a rich insight into the development of auctions as a business and into the auction market during a complete cycle, and they sketch out important aspects of the future development of the auction business. In addition, the fundamental factors attributable to commercial real estate auctions are identified and investigated. A model is developed to enable a clearer understanding of the relationship between and within these factors, at various points of the economic cycle. The outcomes of the investigation address the issues of viability and sustainability within the commercial real estate auction market and offer a series of suggestions that will underpin the future survival and growth of this market.
|Nifer y tudalennau||17|
|Statws||Cyhoeddwyd - 11 Medi 2009|
|Digwyddiad|| RICS COBRA Conference 2009 - University of Cape Town|
Hyd: 11 Sep 2009 → 11 Sep 2009
|Cynhadledd||RICS COBRA Conference 2009|
|Cyfnod||11/09/09 → 11/09/09|