Landwood Property Auctions witnessed a record-breaking sale in July.
The Manchester-based auctioneer offered 49 properties – a rise of 800% on the number of transactions that were completed in January.
Overall, sales since the company’s launch have now surpassed the £14 million mark.
In July alone, the value of these sales – including penthouses, farmhouses, terraces and nightclubs from the Shetland Islands to Southern England – was approximately £3 million.
With demand from buyers and sellers continuing to rise, Landwood is now hosting weekly online auctions. Instructions are already in place for weekly auctions due to take place throughout August.
Kate Lay, director of Landwood Property Auctions, explained: “Sellers need to see momentum and proof of success and that’s why from the start of this year, it’s really taken off. The average amount of time it takes to sell a property through traditional methods is 62 days - but through Landwood’s online auctions it’s just 14 days.”
“Sellers and buyers have all the expertise, experience and benefits of an estate agent, but the whole process is much quicker and more convenient. We have dealt with everything this year from a city centre penthouse in Manchester, to a farmhouse in Gwent, a holiday home in the Shetland Isles and a former care home in Cumbia.”
However, it’s not just larger properties that attracted the most interest. Small 1259 Warwick Road, Birmingham, also saw 103 bids.
“Bidders love the convenience of the online bidding process, with it being so easy to partake,” Lay continued. “They also benefit from a very transparent platform that shows exactly how many people they are up against.”
“And sellers are attracted to our online auctions because of the speed and certainty of sale. A recent client came to us after having their house on the market for £55,000 with a traditional estate agent for more than four months. We sold it for £76,000 with 23 days.”
Landwood’s surge in online business is reflected across the UK. Some 46% more properties were sold in this fashion in the first five months of 2019 verses the same period last year. What’s more, the total value of UK property sold via online auction in 2018 was £236 million.
To view the list of current properties coming up for auction, please visit www.landwoodpropertyauctions.com.