The UK’s number one property auctioneer, Auction House, which has a commercial branch, Auction House North West, in the heart of Manchester, has offered more lots so far this year than any other year up to August in the group’s ten-year history.
The multi-award-winning auctioneer has offered a massive 2,533 auction lots so far this year (up from 2,480 in 2016) at 125 sales around the country, with a healthy success rate of 74.9%.
Commenting on the encouraging picture, Stuart Cooper, Director of Auction House North West said:
“These figures prove that auction properties are still in great demand, and the appeal of auctions as the quickest method of sale is strengthening. Auctions have been less affected by the recent downturn than other sectors because they involve a faster process and their pricing better reflects market conditions.
While we have seen success rates drop slightly over the summer months as sentiment has declined, we still sold 361 lots in July alone, which brings our total number of sales this year up to 1,897. No other property auctioneer in the country can even approach these sorts of figures.”
Auction House has also noticed an increased number of former churches and chapels entering its auctions, many of them with planning already in place. There have been ten across the UK so far this year—in Wales, Essex, Hampshire, Bedfordshire, and Cumbria—guided at prices ranging from £15,000 to £200,000. Another three are coming under the hammer next month in Devon and West Yorkshire, including St. Paul’s Church overlooking the town of Denholme on September 6, being offered at a guide price of £80,000 to £90,000.
61 properties are already entered into our September 7th auction.
Stuart added:
“The range of properties in our books is growing ever wider, and the categories of buyers and sellers are diversifying too. In a situation where chain transactions are the root of so many issues and delays, we are undoubtedly seeing more private sellers come to us.
This also means that many more ready buyers, including first-timers, are now purchasing at auction using mortgages or specialist finance and often buying for the owner’s occupation.
With this in mind, we expect activity levels to rise again in the autumn. Indeed, our September catalogues are already starting to fill.”
Contact us directly, to be entered into our September auction and receive a FREE Auction Appraisal.