Page last updated at 13:43 GMT, Saturday, 15 November 2008

Clearance sale for house buyers

Property clearance
Buyers were offered discounts of up to 40% in the sale

Difficult times in the property market have prompted an estate agent to hold a one-day cut-price house sale.

Some prospective buyers queued overnight for the clearance event in Glasgow, which was offering homes and flats at discounts of up to 40%.

Stock being sold included repossessions, show homes, end of site stock and uncompleted sales.

Mairi Eckford, from Countrywide Estate Agents, said despite uncertainty people were still investing in property.

She added: "There is an element of frustration in the property market at the moment and I think there is a big lack of confidence.

It's just getting the right place at the right price and this came along just at the right time
Stan Wardrop
"There are people that want to buy, they have the money, but they just need the incentive to get out there and buy a property."

Ms Eckford said although prices had fallen across the UK, in Scotland recent figures showed they were still rising.

She added: "What we are able to do is give builders, developers, buy-to-let landlords, people who are in the business of property, an opportunity to get some much needed cash flow between now and the end of the year and at the same time actually offer properties to the market at prices that will never be repeated."

Ian Hamilton, from Glasgow, was trying to secure a flat in Kilmarnock.

He said: "It's an opportunity not to be missed, hence the overnight wait.

"This is a good enough bargain at the moment so even if it goes down further it's worth the risk."

'Be positive'

Stan Wardrop, from Ayshire, also waited overnight.

He said: "It's just getting the right place at the right price and this came along just at the right time.

"I run my own business and we're finding it tough as well, but you've got to keep going, you've got to be positive and we will come out through it, things will get better."

Mr Wardrop was hoping to buy a four-bedroom house which had been reduced from 245,000 to 160,000.

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