Bricks and mortar remains a ‘safe haven’ for investors

UK auction house Network Auctions has enjoyed further success following their two day July sale which took place in London and Birmingham, with more sales secured post-auction, proving that property remains a ‘safe haven’.

With lots covering the length and breadth of the UK a success rate of 83% was achieved with a total of £5.7m being raised, including post-auction sales.

Properties were offered across 18 counties and so it was unsurprising to find a wide spread of properties available, with bidding active and keen on nearly all lots offered.

Toby Limbrick, managing director of Network Auctions, said: “Despite the current political turmoil in the country and the potential uncertainty of the Brexit vote, good old bricks and mortar has, once again, proven to be a safe haven and buyers have taken a positive view and committed to purchasing.

“Our network of partner agents gives us the edge over our competitors as we combine local knowledge and marketing with the national and international exposure of big city auctions and access to large numbers of buyers and investors.”

Among the highlights was a house in Good Easter, Chelmsford, which sold for £280,000. Also, there was a one bedroom flat in Luton that sold for £55,000 and a double fronted detached house and a separate 2,600 sq ft commercial unit occupying a site of 0.22 acres in Horley, Surrey, which went was acquired for £550,000.

Network Auctions’ next sale will take place in London on 14th September with another two day sale in London and Birmingham in October.