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Auction House Robinson & Hall, our auction department, has offered 48 lots so far this year and sold 46 of them, a staggering 96%. The lots offered have ranged from studio flats to large family homes and small parcels of land to an entire farm! Those which sell particularly well at auction are land, properties with short leases, properties which require work, disused buildings, straightforward rental properties and land or property where value can be added.
Our last live streamed auction on 17 June saw 10 lots offered and 100% sold. The full results can be found here:
Commenting on the figures, Charles Lovell, Head of Auction House Robinson & Hall, said: “A fantastic result! We have seen enthusiastic bidding and an appetite for purchasing property that has continued undiminished, even while the pandemic and restrictions have continued.”
Charles believes property prices are going to continue to hold their own for some time to come, despite rumours that a house price crash is on the horizon.
He explains: “For a house price crash to happen, a mix of certain ingredients has to be in place. For example, during difficult times like these, there would have to be a lack of Government intervention and support. But, as we’ve seen from measures like quantitative easing, extensive furlough and the stamp duty holiday, the Government has already done a considerable amount to prop up the market.”
“There also seems to be no appetite on the part of the Government to pay back the massive debt that has been accrued over the pandemic, which would certainly act as a huge deflationary pressure. So, with all of that taken into account, whilst we may see a cooling off in the market, I honestly think it’s difficult to envisage a house price crash in the near term.”
Charles’s upbeat analysis was echoed by industry analysts and forecasters who took part in Auction House’s recent annual conference, which was held virtually for the very first time via live video stream in early June.
Charles added: “Most importantly, the phenomenal success of Auction House means that there is a plethora of happy vendors out there, successfully selling to lots of interested buyers, with bidding staying keen and prices remaining buoyant. And that’s a situation we expect to continue for some time to come.”
We are now taking lots for our next auction. To find out if your land or property is suitable for auction, please contact 01234 362899 or email robinsonandhall@auctionhouse.co.uk
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