The UK’s number one property auctioneer Auction House – which has a branch in Bedfordshire and Buckinghamshire – has had a successful September, selling 358 lots from 475 offered (a success rate of 75.4%), and raising over £43 million.
The group continues to outperform the market with sales in 2016 ahead of last year at 2,409, barely affected by the more difficult trading conditions that some commentators suggest.
Charles Lovell, Head of Auction House Beds and Bucks, said: “Taking 2016 as a whole, Auction House has offered more and sold more, with a higher success rate and total raised than this time last year. So despite a slower summer in the sector, we seem to be riding the storm.”
“As we approach the winter, more sellers are turning to the speed and certainty of auction to sell properties rather than see them suffer from the cold and wet weather that will soon be upon us. We are currently taking entries for our December auction which will represent the very last chance to get properties sold, exchanged and completed this calendar year – before the forecasted severe weather arrives.”
Charles continues that “the uncertainty in the air over Brexit and economic change around the corner means that many investors are reviewing their plans and portfolios. For some, the decision will be to divest and we all know that this is best done before winter sets in; for others the decision will be to buy more properties with strong yield potential. For those looking to acquire property, the best source of stock is via auction – not only is it a simpler, faster and more certain route to purchase, but there are also bargain opportunities out there.”
“One other noticeable and welcome sight in auction rooms is the growing number of buyers purchasing properties for their own occupation. This includes first time buyers and families who, with the assistance of the auctioneer, can now obtain a speedy mortgage offer and be in a position to bid.”
“Auctions have always been an alternative route suitable for sellers but it has now become an easier pathway for purchasers too. Auctions are certainly moving into the mainstream and those house buyers looking to purchase properties for improvement should be focused on auction stock rather than being reliant upon estate agents.”
“Change is in the air, and auctions are growing in popularity. So if you are in a hurry to sell, call us soon. Or if you’re looking to purchase, then check out the properties we have available – the opportunities are both numerous and diverse.”
Do you want to sell before Christmas? We are now taking lots for our next auction on 15th December at The Hilton Hotel, Milton Keynes. Your lot will exchange on the fall of the hammer so for a chance to sell before Christmas call us today on 01234 362899.Back to articles