Article: Get a lot for your cash ; West End homes with a guide price of 200,000

AUCTIONS are the first place where buyers can benefit from a slow- down in the property market. The Royal Institution of Chartered Surveyors says rate rises are the cause. London retains the strongest property market in the UK, but first-timebuyer inquires have fallen rapidly. "House prices have started to cool for the first time since the mini-boom got under way in 2006," says Ian Perry, of the RICS. "Earlier rate rises have yet to feed through and a soft landing is in store as we move into the autumn."

The first property auctions to feel the changes are commercial, where private investors appear to be holding back. But residential auctions are not yet seeing the same slowdown, says Paul ...

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