Auction House sales up year-on-year

Auction House sales up year-on-year

Auction House has announced a rise in year-on-year sales for 2017, despite a more challenging selling environment.

The auctioneer has sold 2,420 lots so far this year, compared to 2,409 at this point in 2016, at a combined total value of over £300m (£300,104,374).

Roger Lake, Auction House Founding Director, said: “In the current climate, even to have matched last year’s number of sales would have been impressive. But to have exceeded it - despite the uncertainties of Brexit, political turmoil and future trading fears - is nothing short of remarkable.

Our activity has certainly quickened since the summer, with more lots offered and sold. Sale by auction has become a solution for more sellers, as other methods fail to deliver the timely results that vendors require. Results are variable across the country, with stronger success rates evident in the northern half and some buyer reluctance noticeable in the south. We see the market coming back into balance, with keener guides and reserves delivering competing bids and healthy hammer prices.”


Roger continued: “We wanted to keep the same content-rich approach but combine it with a dynamic design to create a portal that is a one stop shop for auction-related material. This includes our unique knowledge bank of auction Q&As, which provides instant answers to the many questions that people ask, and sheds light on the auction method of sale.”

Roger also stressed that in the month of October, auctions are the only solution for those wanting to sell empty properties before the weather deteriorates.

He explained: “All too frequently we see properties that have suffered from the damaging effects of wind, rain, flood, snow and ice - and have lost value as a result. Sadly, it is too late to rely on the private treaty route, which has in many cases now become a four or five month process. What’s more, latest figures suggest that nearly a third of private treaty sales are falling through.

By contrast, auction is the quick, easy and certain alternative. We can’t forecast how challenging the winter weather might be, but if you talk to us soon, your property can be entered into our catalogues and exchanged under the hammer in November or December.”

Join our mailing list:

Leave a comment



Latest Comments

Scott Garnet
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...

view article
richardrawlings
richardrawlings 01 Nov 2017

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...

view article
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.

view article
maggie swift
maggie swift 09 Oct 2017

It's just the beginning of the shocking rise.

view article
maggie swift
maggie swift 09 Oct 2017

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

view article
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...

view article
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...

view article
Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

view article
RyanGeo
RyanGeo 18 Sep 2017

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

view article
sean benton
sean benton 01 Sep 2017

Identity theft is a thread for any profession. So,people should stay alarmed. I once take help from a letting agent and came to know that letting agents are taking every precaution to prevent fraudulent...

view article
Mark N.
Mark N. 30 Aug 2017

We have seen a surge in instructions over August and that should continue into September too.

view article
Chris
Chris 30 Aug 2017

Unfortunately, all the legislation bears its force on Landlords and ignores, naively, the effect of Rogue Tenants on the ability of landlords to keep houses in repair and offer properties for rent at reasonable...

view article

Related stories

More articles from Auctions