Auction House last month saw the highest number of April sales since its launch 11 years ago.
The property auctioneer sold a total of 306 lots during the month, up 16% from 2017 (264 lots), with a combined value of £43.6 million. This includes the sale of a semi-detached bungalow in Stanton Avenue, Northampton with a guide price of £135,000-£155,000 which eventually sold for £156,500 – the 1,000th lot this year.
Roger Lake, founding director of Auction House, called this a ‘remarkable achievement’ amidst the property market going through a rough patch and uncertainty surrounding Brexit.
“It only serves to prove once again the attraction of auctions as a speedy, secure and successful method of sale,” he said.
Auction House achieved 1,032 sales in Q1 2018 compared to 980 during the same period last year, and a total raised of almost £130 million, compared to £123 million in Q1 2017.
According to Lake, the figures show strong performance of room auctions that were not impacted by the rise in internet sales. He said: “Our success rates remain on par with previous years at around 76% at a time when other auctioneers are seeing their success rates fall.”
The most notable performances lie outside the south east of England, particularly in the Midlands and North West, where strong gains were recorded.
“Nationwide, however, properties needing renovation are selling well ahead of the summer months when work to them can most easily be carried out,” said Lake. “This provides a boost for both the building trade and the country’s housing stock and is a category of property which auctions regularly excel in selling.”
He added: “Whilst the future for the market is increasingly difficult to predict, we should always remember that uncertainty brings opportunities, which auctioneers are well placed to spot and respond to quickly.”