The group’s national success rate of 71.6% was ahead of the market and the total raised was a healthy £54.5 million (£54,525,440). The company also sold its 2,000th property of the year one month earlier than in 2017 – an end of terrace former off-licence at 105-107 Norfolk Street in Cambridge, which was guided at £400,000-£450,000, but sold in the room for a staggering £795,000.
The cumulative picture for the year also underlines the group’s growth, with 2,030 lots sold from 2,692 offered, at a success rate of more than 75% (75.4%) and close to £260 million (£258,515,191) raised.
Roger Lake, Auction House Founding Director said: “July was a strong month for entries and our sold numbers held up well despite trading conditions becoming more challenging. It is great to have passed the 2,000 lots sold marker already, and to have notched up over £250 million worth of property sales so far this year. Pricing strategy is an important ingredient to success and local knowledge is necessary to deliver this consistently – it really is a significant strength and an undoubted attraction for our regional network.
We continue to deliver the twin benefits of speed and certainty, which are the cornerstone of our offering and hugely appreciated by auction sellers and auction buyers alike. What we provide is the opportunity to achieve a fast exchange of contracts – normally after only three or four weeks marketing, with legal completions usually following four weeks later. More and more anxious sellers are choosing our services as we have an active pool of buyers for property types that benefit from competitive bidding.”
