Auctions

Auction House London end 2019 on a high

Warren Lewis
|
7th January 2020
auction

According to the London based auctioneer, It was a packed saleroom for the final sale of 2019, with a number of lots selling well above their guide prices.

Just ahead of the General Election, bidders were clearly feeling buoyant with a renewed enthusiasm for buying property, with many lots attracting fierce competition. This 3 bed terrace in Guildford, Surrey needing total modernisation, started with a guide of £225,000 and sold for £320,000.

Andrew Binstock, Director and Auctioneer at Auction House London, commented: “There was a definite buzz to our December sale and the feel good factor from buyers is returning. Now having moved on from the General Election, investors are keen to get stuck in to more projects and next year is promising.”

Another highlight of the sale, where 82% of lots offered sold, included this first floor 2 bedroom flat in Deer Park Gardens Mitcham, Surrey, which flew out of the room. Starting with a guide of £60,000, the property in a converted semi, sold for £115,000, with just 16 years left on the lease, beating all expectations.

He added: “This was a great auction to end a good year. The room was busy and optimistic, and despite concerns there would be a huge dip in sales in 2019 with the political uncertainty, it hasn’t happened. It has been business as usual with an average of 80% of properties sold throughout the year. And 2020 is looking even better.”

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