A report by the Royal Institution of Chartered Surveyors says the number of homes going on sale at UK property auctions has hit the highest level for more than two years.

More than 5,000 homes went under the hammer between March and June, with experts suggesting property is becoming a buyers’ rather than sellers’ market.

The Royal Institution of Chartered Surveyors also said a 20% rise in repossessions in the first half of 2007, reported by the Council of Mortgage Lenders, helped homes for sale at auction between March and June up to 5,120.

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Posted: 09|8|07 at 9:04 am. Filed under: Auction News.