Auctions

Buyer confidence returns in the auction room, says Auction House London

Warren Lewis
|
27th February 2020
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Auctioneers, Auction House London, has released its latest set of figures and reported that confidence is returning to the sector with a high volume of sales at its latest event.

According to the firm, it was a packed auction room for the first sale of 2020 where bids on a number of lots just kept on rising above all expectations, and 89% of all lots were sold.

A highlight of this sale was a severely fire damaged three-bedroom semi in Tooting, which started with a guide of £375,000 and sold for £647,000.

Director and Auctioneer at Auction House London, Andrew Binstock described the sale of this lot as a runaway success. The property in south-west London had the advantage of being close to the Tooting Bec underground station and within easy reach of the open green spaces of Tooting Bec Common, and the Tooting Bec Lido.

Andrew said: “We are sensing rising energy in the housing market from buyers and it appears to be more than just a Boris bounce. The figures speak for themselves – it was our busiest auction room in years, where we sold 89% of all lots listed – the highest percentage in the past year.

One of those was the former home of Tottenham Hotspur’s first captain and one of the club’s founders, Bobby Buckle, which created a lot of interest. The Grade II listed double fronted house in White Hart Lane, Tottenham, currently arranged as two flats, started with a guide of £450,000 before it sold at £580,000. Needing modernisation it is overlooked by the club’s new stadium.

There seemed to be a renewed optimism at the start of 2020 from buyers at the Auction House London sale with many lots selling above their guide price, including this ground floor four bedroom flat in Brixton which needed updating; starting with a guide of £250,000, selling for £390,000.

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