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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Scott Garnet 06 Nov 2017

If you have a patio or a porch it is important to make sure that any connecting doors are secured. Good advice for sliding glass doors is replacing the panels with storm resistant glass and getting heavier...

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richardrawlings
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What has not been mentioned here is the effect of not only higher interest payments, but also that these payments are less likely to be offsettable as a business cost due to the scaling back of mortgage...

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Kelvin Lloyd
Kelvin Lloyd 09 Oct 2017

IT is up, to the Planners. If they will only give permission for bungalows on certain (suitable) sites, they will be built.

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maggie swift
maggie swift 09 Oct 2017

It's just the beginning of the shocking rise.

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maggie swift
maggie swift 09 Oct 2017

I have recently read that the bungalows can provide social housing for elderly residents in London.

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zoe glover
zoe glover 05 Oct 2017

Update! Worst company I have ever dealt with. Undervalued a Cambridge property by over 100k, wont take on any evidence of valuation including a RICS valuation done 3 years ago for the very same value...

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Paul Edwards
Paul Edwards 27 Sep 2017

Its nonsense articles such as this that make it harder to get clients to realise just how difficult the market is out there. When you see Rightmove and there are more 'price reduced' then 'new' most days...

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Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

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A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

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