This year Cash is king

Readies steady With auction prices seemingly close to the bottom, lack of liquidity is the main factor holding back the market. But for those with ready cash, it could be the best buying opportunity for decades, writes Estelle Maxwell

This is likely to be a year in which fortune favours the brave and cash-rich - but 2009 will also be a seriously difficult time for commercial and residential auctions.

With the wider property market gripped by paralysis, the UK economy officially in recession and sterling under the severest pressure at the end of January, auctions face a myriad challenges.

Auctioneers nationwide cite