UK property auctioneer, Network Auctions, has revealed that property auctions continue to show solid performance, with their latest online collective sale achieving a 90% sales success rate and raised £1.78m.
The multi-lot auction which included a public house in Berkshire, a lock-up garage in Wembley and a detached villa in Plymouth among the 32-lot catalogue, attracted numerous bids from across the country.
Toby Limbrick, Director, comments:
"The continued success of our online property auctions shows the strength of the market and the demand from buyers for attractive opportunities.
"We’ve always been a nationwide firm and online auctions allow us to cater for everybody without them having to set foot out of the door. Increasingly we are seeing buyers enjoy the convenience and flexibility of online bidding.
"Investors are still attracted to yields and potential development angles and so we are seeing short lease flats, smaller parcels of land and garages retaining strong interest levels.
"We believe we have produced another solid performance underlining the strength of the property market, despite the effects of Covid-19."