Estate agents undervalue auction prices by a third

Advised minimum values (AMVs), the new system for estimating the values of homes for sale, have failed to give buyers more accurate indications of how much properties will sell for at auction.

26th August, 2006

Advised minimum values (AMVs), the new system for estimating the values of homes for sale, have failed to give buyers more accurate indications of how much properties will sell for at auction.

The difference this year between the prices achieved at auctions and AMVs placed on those properties is just as big as it was in 2005 when the old system of guide prices was still in place.

Houses sold at auction in 2006 made an...

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