Boroughs 'Losing Pounds 10 Million a Year As They Auction Homes Off Too Cheaply'
Evening Standard - London › October 29, 2009
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Summary
LONDON councils are losing Pounds 10 million a year by selling properties through auctions rather than estate agents, new figures show.
Cash-strapped boroughs want to get money quickly to plough back into redeveloping other, cheaper homes to ease overcrowding.See the full content of this document
Extract
Boroughs 'Losing Pounds 10 Million a Year As They Auction Homes Off Too Cheaply'
A total of 400 homes were sold at auction in the past three years, generating nearly Pounds 160 million for boroughs. But experts estim...
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