How SDL Auctions has been leading the property boom since March
As the latest data from Nationwide reports that ‘pent-up demand’ has led to the highest property price growth for four years, the team at SDL Auctions are proud to have been ahead of the trend and still leading the way.
Managing director and auctioneer Andrew Parker said: “The media are calling it a post-lockdown property boom but we have experienced no decrease in appetite from buyers throughout the pandemic.
“Thanks to the adaptability of our team and our commitment to our sellers, we have maintained a consistent auction schedule from the very first days of lockdown. As a result, we are now the UK’s most successful live-streamed auctioneer and our latest results are further proof of this.”
Last month’s national property auction was the biggest yet for SDL Auctions, with a catalogue of 240 lots – 53% more than the auctioneer offered in September 2019. Conducted from the head office auction studio, the auction ran for nearly 12 hours, bringing the total raised for sellers during September to £26 million.
Enthusiasm remained high throughout the day, with auctioneers Andrew Parker and Rory Daly taking turns on the rostrum and fierce bidding for many of the properties, which sold for an average of 16% above their *guide prices – with many achieving much more than this.
Andrew said: “It’s always satisfying to get great results for our sellers and to be part of the excitement of auction day. Although we miss seeing the familiar faces of our crowded auction rooms, we get the same buzz in the auction studio and I’m told this comes across to viewers watching the live stream.”
The auction began in Derby and got off to a flying start with the sale of 16 Bendall Green in Littleover. Requiring full renovation, the three bedroomed property sold for £106,000 from a *guide price of £59,000+.
Over in Nottingham the star of the show was the Grade II listed Holly Lodge in Holme Lane, close to the National Water Sports Centre in Holme Pierrepont. Bidders were drawn to the rural 19th-century property and, from a guide price of £250,000+, it sold for £412,000.
Any doubts that a live-streamed auction lacks the excitement of an auction room were cast aside with the sale of Hawverley, Rupert Street in Wolverhampton, which attracted rapid bidding and several heart-stopping moments before selling for £194,000 from a guide price of £100,000+. The three bedroomed semi-detached house with an additional attic room requires full upgrading, providing the new owner the opportunity to add value.
The highest-value lot of the day was in the North West, where a large part-tenanted, mixed-use property comprises eight commercial units and 23 apartments and produces a rental income of £143,632 per year. Close to a retail and leisure development and with good transport links into Manchester city centre, 100 Lord Street in Leigh sold for £1,270,000 from a guide price of £1,150,000+.
These are just a small sample of the many lots which were sold in the September national property auction, which included houses, flats, commercial properties and land. The success of the auction means SDL Auctions has now sold more than 1,000 lots and raised over £130 million for sellers since the start of 2020.
*Each property is subject to a Reserve Price which may be different from the Guide Price.