Notice: During the Coronovirus outbreak, properties will be offered via Online Auction platforms by the auctioneers, with internet bidding along with Proxy and Telephone Bidding. Full information will be provided by the individual auction houses. READ MORE

Auction House romps past 3,000 lots sold milestone ahead of last year

Award winning property auctioneer Auction House has sold more than 3,000 lots this year (3,076) – exceeding the benchmark figure one month earlier than in 2017.

The cumulative total for the year represents a success rate of 74.3%, with the value of lots sold in 2018 currently standing at more than £382m.

October also saw the highest number of lots ever offered in a single month (681), selling 486 of them – a record for October and the group’s fourth record month in succession - with a success rate of 71.4% and over £56.6m raised in the process.

Commenting on the figures, Auction House Founding Director Roger Lake said: “These are exceptional results at what is unquestionably a challenging time for the property industry. Auction House is delivering results for needy and urgent sellers, and achieving exchange of contracts in 3-5 weeks from instruction. Our clients realise that a big attraction of auction is that we don’t suffer the delays, chain transactions and cancellations which are ever-present in the private treaty process.”

Roger Lake says that an increasing number of sellers are seeking out regional auction rooms – particularly for homes which have failed to sell through estate agents.

He explained: “Pricing is always key – and each of our 40 regional auction rooms has an in-depth knowledge of its customer base, local property values and market conditions. Our regional presence means that we can recommend competitive pricing for every lot - and because we understand our regular buyers, we can work with them on post auction sales, which are a significant element of our results.

“Auctions are perfect for selling properties with short leases, houses requiring work, buy-to-lets, as well as mixed use and commercial. We have 30 auctions booked from mid-November to mid-December in all parts of the country – so there is still time to sell through us this year, prior to the Christmas break!”​