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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Jimmy_McCoy
Jimmy_McCoy 16 Sep 2016

I think that the main reason to buy garden purchases in last minute is because people always search for the best deal. In summer months there are abundance of seasonal goods and it means more low cost

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Jimmy_McCoy
Jimmy_McCoy 16 Sep 2016

Buying a home often is more expensive than you expect. There are lots of hidden costs such as: stamp duty, surveys and valuations, mortgages etc. that can add more than 10% to the total bill

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Homebuyerconveyancing
Homebuyerconveyancing 15 Sep 2016

We are seeing a massive influx of Homebuyers using online Estate Agents. The winners are the online portals that still aim to manage the customer journey to homeownership. They provide a valuation service,...

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oliviaG
oliviaG 12 Sep 2016

Without a doubt renovating can truly be very beneficial to many homeowners but it depends to a great extent on the condition of your home and the parts of it you want to refresh. Before you start you should...

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oliviaG
oliviaG 29 Aug 2016

So true about cats!

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Jason Roberts
Jason Roberts 25 Aug 2016

Any predictions what average rent will be at the same time next year, anymore drops coming?

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dylanvan
dylanvan 19 Aug 2016

very good, thanks for sharing

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SecomTech
SecomTech 19 Aug 2016

Firstly, I either lodge with DPS or do not take a deposit...secondly, If a tenant has not received a confirmation their deposit is secured with either a scheme or in an insured account with an agent/landlord,...

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jasonevans
jasonevans 19 Aug 2016

Belvoir has over 15 years of experience in property lettings, buying and renting and is one of the best agencies I know about. I have heard that they revived an award for the hard work. Really amazing...

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jasonevans
jasonevans 19 Aug 2016

Usually these areas are least affected when it comes to unexpected economical collapse.

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TheWaspNestRemover
TheWaspNestRemover 11 Aug 2016

You agree to pay for the treatment needed to get rid of fleas, ants, mice, wasps nests and other pests unless you can prove that these are a result of us not meeting our repairing responsibilities or these...

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madisonwelch80
madisonwelch80 02 Aug 2016

16% is quite a raise. Let's hope this tendency won't continue for long.

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