Record numbers attended Romans’ first summer auction of the year, at the Green Park Conference Centre in Reading. The packed sales room and competitive bidding resulted in 92% of the lots selling at or above their guide prices.

“Competition between investors and owner occupiers was very much in evidence today, which drove prices up to some extremely good levels” comments Simon Clayton, Romans’ Auctions Director.

“There was an enormous appetite for properties requiring renovation or with investment potential, and it was a case of simply not having enough stock to supply the demand. This is clearly great news for sellers, and very promising for our second summer auction being held on 29th July.”

A detached house on Woods Road in Caversham was a star lot on the day, attracting a lot of interest from buyers and selling for £620,000, an impressive £220,000 above its guide price.

“Although this property requires modernisation it offers good potential for development and its brilliant location clearly attracted a lot of interest” add Simon.

Another property that sold above its guide price was a mews style terraced house on Eldon Terrace in Reading, which sold for £84,000 above its guide price. The property requires renovation but also offers the potential for replacement or extension, ideal for investors or owner occupiers looking for a project.

A one bedroom first floor flat on Stravinsky Road in Basingstoke sold for £131,000, from a guide price of £100,000. The location is ideal for commuters and therefore attractive to investors, with good access to the M3 and train station with direct links to London Waterloo.

A couple of one bedroom apartments in Clevedon Lodge in Reading sold above their guide prices, and a three bedroom detached house on St. Peter’s Road in Earley sold for £383,000, from a guide price of £320,000.

Simon adds: “We achieved some very encouraging prices during the auction, providing confidence for anyone thinking of selling this summer.