According to the auctioneers, a record 1,339 bidders were registered to take part in the livestream sale which saw 90% of lots sold raising almost £25m (£24,866,699).
Andrew Binstock, auctioneer and director of Auction House London, said: “The market continues to remain incredibly strong with demand for property extremely high. Imagine trying to fit more than 1300 people into one auction room! That’s why our livestream sales work so well, giving buyers the ability to take part online, while still having all the benefits of a live auctioneer conducting the bids in real-time.”
In Hounslow, Middlesex, this three-bedroom semi, which needs updating, is close to the Piccadilly line. It was guided at £275,000 before selling at £488,500.
Andrew adds: “Unmodernised homes and land are proving extremely popular with buyers, and properties are regularly selling above their agreed reserve price. Competition is so strong at the moment – which means it’s the perfect time to sell in the competitive arena of an auction room. There seems no end to the appetite from buyers and it’s definitely a sellers’ market.”
In Bromley Road, Catford this first and second-floor maisonette with 124 years of lease remaining was guided at £150,000 and sold for £281,000. Similarly, a three-bedroom semi in Borehamwood, near good transport links was guided at £375,000 before the hammer came down at £514,000. Both properties need updating.
Andrew concludes: “There are more users than ever across the Auction House website – from 1.6m in 2019 to 2.4m now – and a greater proportion of younger people are accessing the group’s services online.”
Auction House London is now taking entries for its next livestream sale on Wednesday 16 March 2022
