Auction House sales up from last year

Despite a tumultuous selling environment, Auction House has seen a rise in year-on-year sales for 2017.

Compared to 2,409 sales at this point last year, the property auctioneer has sold 2,420 lots so far in 2017, with a combined value of over £300 million in total.

Auction House founding director, Roger Lake, commented that exceeding last year’s number of sales despite political turmoil and uncertainty of Brexit is ‘nothing short of remarkable’.

“Our activity has certainly quickened since the summer, with more lots offered and sold. Sale by auction has become a solution for more sellers, as other methods fail to deliver the timely results that vendors require,” Lake said.

He added: “We see the market coming back into balance, with keener guides and reserves delivering competing bids and healthy hammer prices.”

The release of recent figures came in line with the launch of Auction House’s new website, which has been designed to be ‘a one stop shop for auction-related material’.

Lake also highlighted that auctions are a main solution for those wanting to sell empty properties before the weather worsens as we move towards winter.

“All too frequently we see properties that have suffered from the damaging effects of wind, rain, flood, snow and ice – and have lost value as a result,” he lamented.

“Sadly, it is too late to rely on the private treaty route, which has in many cases now become a four or five-month process. By contrast, auction is the quick, easy and certain alternative.”