Auction House records best ever results

Auction House records best ever results

UK property auctioneer, Auction House, has just recorded its best ever sales month, beating all previous records in the nine year history of the company.

February 2016 saw the group break its highest ever monthly record on three key performance metrics – offering 600 auction lots, selling 461 of them, and raising nearly £63 million (£62,782,000) in the process.

Auction House Founding Director Roger Lake said: “It’s a real milestone to have offered 600 auction lots in a month - a figure that hasn’t been reached by any auctioneer since the credit crunch. To have sold more properties than ever before, and doing so at our highest ever monthly sales total are real stand-out performances too. Altogether, it’s a compelling performance for our first round of auctions in 2016.”

Roger Lake acknowledged the boost to the market created by buyers trying to beat the arrival of the stamp duty surcharge in April, but said that he believed other factors were also at play.

He explained: “I wouldn’t describe bidders’ behaviour as being as ‘frenzied’ as many forecasters had predicted in advance of the Chancellor’s impending tax changes. Instead, we witnessed restrained optimism and sensible bidding, which lead to strong prices being achieved on many lots.

But set in a wider context, these results continue what has become a rising trend for Auction House, indicating the increasing appeal of regional sales. Our sellers recognise that higher prices can be achieved when properties are sold closer to home, due to the higher numbers of local buyers who are interested and willing to compete for a purchase.”


Auction House has a total of eleven auctions booked for March, and is expecting a busy April as well.

Roger Lake added: “We now move from a buoyant pre-surcharge environment where all buyers were treated equally, to a market that is skewed in favour of those purchasing for owner occupation. We expect to see a new norm evolving, with investors accounting for the extra 3% and a growing number of First Time Buyers entering our auction rooms with greater confidence.”

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Latest Comments

Oliver Conway
Oliver Conway 18 May 2017

Making a neat inventory is a good idea, but if the seller is not willing to provide it, can the buyer demand it?

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Bertrand
Bertrand 17 May 2017

First step to nationalisation of the private rented sector IMHO. Nanny state poking their noses into things yet again. I object, as a decent landlord, sometimes having to deal with some pretty awful tenants,...

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Izzy
Izzy 16 May 2017

This is such a great a post. I love the detail you've gone into. It's a very useful article for helping those who are looking at deciding which sector they would like to go into! When I first started investing...

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paul burnham
paul burnham 30 Apr 2017

Jeremy Corbyn's pledge that a Labour government would build 500,000 new council houses must electrify the general election campaign. Reliance on markets and the profit motive has brought huge housing-related...

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CommercialTrust
CommercialTrust 28 Apr 2017

Sadiq Khan?s announcement of an online database of landlords and letting agents who have been convicted of housing offences, appears on face value to be a variation of the already implemented Database

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warren
warren 26 Apr 2017

You're very welcome Mary! Glad you enjoyed them :)

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Mary Ward
Mary Ward 26 Apr 2017

Thank you for the wonderful ideas. First impressions can make or break a deal. It's sadly that many homeowners drop the kerb to create an off-street parking space.

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Tony Gimple
Tony Gimple 14 Apr 2017

I'm not at all surprised that so many landlords are still confused about what the tax changes really mean and how it will affect them. In particular, the blind rush to incorporation is leaving landlords...

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MH
MH 13 Apr 2017

You are right that the bank holidays are going to be spoiled in looking for the properties. But people who want to sell their property and looking for the better relocation, they can get benefits of this...

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bnellyb
bnellyb 08 Apr 2017

There will be an exodus of private landlords over the next 5 years as tax changes take effect, private landlords provide an important service to the rental market, why do housing associations and councils...

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Fred Cassman
Fred Cassman 07 Apr 2017

"Make it look like you are at home": often people forget this and share on facebook their location!

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jared townsend
jared townsend 05 Apr 2017

It'll be interesting to see how & if the Government's asset sale regarding mortgages helps

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