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

CommercialTrust
CommercialTrust 30 Jun 2016

This is great news for buyers and investors in a period of significant uncertainty. The 10-year buy-to-let fix at 3.99% in particular is excellent, a clear 100 bps ahead of the nearest competition. Though...

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Lee
Lee 30 Jun 2016

Let's see what happens to north-east property prices when Nissan announce they're leaving.

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DmitriKara
DmitriKara 29 Jun 2016

I just read another article about eviction rising and this was exactly what was on my mind, Housing has become "cat and mouse"...

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DmitriKara
DmitriKara 29 Jun 2016

I am really not surprised. I've seen one too many impudent tenants and in my humble opinion renters have one too many privileges and options to abuse heir landlord in so many ways...

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DmitriKara
DmitriKara 29 Jun 2016

There is still so much uncertainty and I will surely step back and see what's happening before I could make any decisions on my end.

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ChristinaReedUK
ChristinaReedUK 20 Jun 2016

I don't understand why it's always a war between the two sides. Either, way the landlord is probably keeping a detailed inventory and will see the changes you've made. I just don't understand why there...

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NathanGreen
NathanGreen 16 Jun 2016

Seeing that the tenants are quite satisfied with their landlords and the properties is indeed great. I wonder, though, what is the situation in London alone? The tenants face sky-high rent levels in the...

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AndiMur
AndiMur 15 Jun 2016

TheGuardian published the same forecast. But on the other hand, professional brokers express different opinions. According totranio.com, an exit from the EU would not affect the demand/supply imbalance...

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Gary Holmes
Gary Holmes 14 Jun 2016

Having a professionally completed inventory at check-in and check-out is clearly (to me at least) of minor value. Tenants make un-authorised modifications and/or walk off with items that belong to the

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Violet Gibson
Violet Gibson 14 Jun 2016

Cautious people think buying off-plan is reckless, but over the past few years investors have literally made fortunes.Pre-release prices have obvious benefits for the developer, who gets instant finance...

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Kate Windleton
Kate Windleton 14 Jun 2016

An interesting research indeed. I guess that is in complete contrast with the United States where people often move from one coast to another. It will be interesting to hear the trends for people moving...

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NathanGreen
NathanGreen 14 Jun 2016

I think it all depends on the market conditions and how well your company is doing. You will agree that you can't demand more when you're killing yourself just to hang in there. Sometimes you need all

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