Liberal Democrat party treasury spokesman, Lord Oakeshott, said the average price of the 3,993 homes sold at property auctions in the United Kingdom between June and August was £130,400 , down 23% from £170,300 in the same period a year ago.

“Auctions are the sharp end of the housing market where real deals show the prices paid by real buyers. The published house price indices are well behind the game,” said Oakeshott.

Posted: 09|12|08 at 11:04 am. Filed under: UK Property.