Tag: market update

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A surge in the number of family homes being sold by Auction House has seen its average selling price rocket by 40% year on year across the country, from £103,400 in 2019 to £145,500 now.

Charles Lovell

The group, operating as Auction House Robinson & Hall in this area, has made over £300 million worth of property sales in the year so far, well ahead of any other residential auctioneer. Cumulative sales for 2020 currently stand at 2,300 lots sold from 2,913 offered, at a strong success rate of 79%.

Commenting on the figures, Charles Lovell, Head of Auction House Robinson & Hall, said: “The pandemic has certainly been challenging, however we have adapted and introduced working practices to keep buyers, sellers and ourselves as safe as possible so that not only are we listing more lots, we are also selling more family homes.”

At £63 million, last month’s total value of sales was the highest the group has raised in any September over 12 years of business. During the month, Auction House sold 433 lots from 533 offered, and delivered an impressive success rate of 81.2%.

Charles explained: “Clearly, the auctions market is returning to pre-Covid levels of activity. Remote bidding is now fully accepted as the norm around the country, and buyers have grown in confidence with bidder numbers continuing to rise. Sellers too are again choosing auctions, where the selling prices achieved are regularly well beyond expectations.

Sellers are demonstrating their trust in auctions, and understandably have a growing desire to sell in the current high-demand environment.”

October was one of our largest auctions to date, selling a variety of lots resulting in an impressive success rate of 88%. The full results can be viewed here.

Charles continues “We are entering the colder months, so now is a great time to sell any empty property, and with auctions you will get a quick sale.”

We are now taking lots for our live streamed 3rd December auction at 2.30pm. Deadline to enter a lot is Friday 6th November so don’t delay! Please call 01234 362899 or email robinsonandhall@auctionhouse.co.uk