Quest for certainty results in surge in property auction sales
A surge in interest in auction sales is being reported by SDL Auctions, as property owners swap the unpredictability of the open market for the certainty of selling under the hammer.
Ahead of its next national property auction on Wednesday 30th September, the UK’s most successful live-streamed auctioneer has just launched its biggest catalogue yet. It features 238 lots, which is an impressive 53% more than the auctioneer offered in September 2019.
Managing director and auctioneer Andrew Parker puts the increase down to a number of factors.
He said: “Many sellers tell us they have chosen auction because it provides certainty, something which is valued ever higher in these uncertain times. They are not prepared to take their chances on the open market when the economic situation can change so rapidly due to the pandemic.
“This may explain the increase in interest in auctions as a concept but the reason people are choosing SDL Auctions in particular is, I believe, because we have maintained a consistent auction schedule throughout the pandemic. We kept our auctions going via live video feed even in the strictest lockdown period, providing a vital service to sellers when they needed us most. And sellers can trust us to continue to do so with our monthly national property auctions.”
This consistency has paid off for SDL Auctions, which has raised its profile and broken down geographical barriers to become a national leader. So far this year, it has sold more lots in live-streamed auctions than any other UK auctioneer; it has sold more than 1,000 lots and raised £100 million for sellers. Last month SDL Auctions became the first auctioneer since 2008 to offer a 200+ lot catalogue in August, traditionally a quiet month for the property market.
For its September national property auction, three top auctioneers will be back on the rostrum in the auction studio when Andrew will be joined by Rory Daly and Graham Penny.
The auction has drawn lots from all corners of the country, from a purpose-built one bedroomed ground-floor flat in Maxwell Street in Port Glasgow, with an attractive *guide price of £5,000+ down to south coast, where properties include a second-floor apartment in a character building in Southampton.
Likely to appeal to investors, 24 Elmfield North Block in Millbrook Road East features a bright open-plan living area and modern fitted kitchen and is within walking distance of the railway station and city centre. It has a potential rental income of £750 per calendar month and a guide price of £60,000+.
But the bidding action will begin in the Midlands, with an end-of-terrace house in Derby which has already attracted a great deal of attention.
16 Bendall Green in Littleover, which has a guide price of £59,000+, requires full renovation but has three bedrooms and occupies a convenient location close to amenities.
Among the commercial properties going under the hammer is an iconic former tailors’ factory in Manchester which once made jackets for the Royal family. 4-10 Mossfield Road in Pendlebury, near Swinton. The extensive two-storey factory with cellars has the potential to be converted to apartments, subject to planning permission, and*guide price of £160,000+.
There are development opportunities, too, such as a plot of land near Swansea with full planning permission for five houses. The building plot to the west of St Paul’s Church in Cwm Level Road is within walking distance of the town centre and railway station and has a guide price of £120,000+.
Andrew added: “It will be exciting to be back on the rostrum once more and to offer such a wide variety of lots. Whether you’re looking for a renovation project, a plot of building land or a family home you can move straight into, you’ll find them all in our bumper September catalogue.”