I think nowadays people are under the impression that auction properties are not a great idea, because you could end up in a bidding war and potentially over pay for something, my opinion on it is KNOW YOUR LIMITS.
So set yourself a floor and ceiling price and see how it goes, after all what have you got to lose? Your ceiling price still delivers a yield you will be happy with and anything from the ground up is a bonus?
Check out the link below, this Studio Flat on Alpha Road is basic don't get me wrong but the location is absolute prime. Returning a yield of 4.7% at my realistic ceiling price within the auction and potential to rise to the sky dependant on how good at negotiating at auctions you are (or how much the other person is willing to pay of course)
The market is heating up now and we are going to have lots of deals becoming available so watch this space
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