Against the backdrop of a buoyant housing market spurred on by the stamp duty holiday, online auction offered a digital solution that supported speedy sales. Agents seem to agree, with over two-thirds claiming that auctions are best suited to a buoyant market.
Jamie Cooke, managing director at iamsold, comments: “We’ve been living in a once in a generation event that is likely to have long-term repercussions on the behaviours and attitudes within the UK housing market from agent and client alike.”
“Those agents who initially looked to auction for an online solution during lockdown, or for speed of sale to make the Stamp Duty Holiday deadline are now realising that auction isn’t just for those novel circumstances, but a real solution for the future.”
Cooke believes the popularity of Modern Method of Auction is on an upwards trajectory. The narrative is shifting as auctions become more widely recognised as an alternative method of sale for all types of property.
“This has accelerated as a result of recent events such as the move to online and peak in the market,” he adds. “We’re onboarding new agents every week and our industry-first partnerships with Rightmove and Zoopla has brought auction to the mainstream.”
“Auction has demonstrated that it can work in all market conditions, with great results and we’re glad that more agents are open to be able to experience its benefits.”
Jon Holden, managing director at Douglas Alan, comments: “Online auction is increasingly a part of our business and has grown considerably in the last three years.”
“Our staff are more confident when offering auction as an option to our clients as a way to get great results. I am very hopeful for the next three, five and even ten years it will grow as a part of our business.”
Rare lots and bargains expected at Bond Wolfe sale
Bond Wolfe has released the latest highlights of its upcoming auction; a holiday home in Cornwall going for as little as £20,000, a Sutton Coldfield home with a guide of £90,000 and a wide range of houses across Birmingham.
Its September 9 auction will see a 35-acre holiday park in Cornwall at 81 Hengar Manor, St. Tudy, near Bodmin, go under the hammer.
The two-bedroom bungalow has access to a nine-hole golf course, tennis courts, fishing lake, swimming pool, popular bar and restaurant.
Competitive bidding is expected for the detached property and comes with a tempting guide price of just £20,000.
Gurpreet Bassi, chief executive at Bond Wolfe, says: “With staycations the byword for sunseekers this year, we’re expecting huge interest in this holiday home, which comes with a long leasehold.”
“The Hengar Manor country park is close to Cornwall’s beautiful coastline, an example being Polzeath beach, one of the most popular resorts in the area, which is just 13 miles and a 35-minute drive away.”
He adds: “Although this property is leasehold, there are some 900 years unexpired, and it comes fully furnished and will include any forward bookings.”
The bungalow is the second holiday home Bond Wolfe has had for auction from Hengar Manor, after a three-bedroomed lodge with a guide price of £39,000-plus was sold for £75,000 at the company’s May auction.
Also set for a bidding war is a Sutton Coldfield family home, a three-bedroomed, mid-terraced property at 135 Wyatt Road in the sought-after suburb with a guide price of just £90,000-plus.
The double-fronted former council house is being sold on behalf of Birmingham City Council and will come with a new 125-year lease at a peppercorn ground rent, with a requirement to refurbish the property as a usable single dwelling within 12 months of purchase.
Ron Darlington, consultant director at Bond Wolfe describes the lot as ‘a fantastic opportunity to buy and develop what could be a great family home in the highly desirable suburb of Sutton Coldfield’.
“The house is set well back from the road with a footpath approach and front and back gardens,” he adds. “It has a canopy porch entrance, hall, through lounge and kitchen-diner downstairs, with a landing, three bedrooms, shower room and toilet upstairs.”
“While substantial improvement works are needed throughout, this lot is expected to be popular with DIY experts who could be first-time buyers or landlords looking to extend their portfolio.”
House hunters will also be attracted to a wide range of homes across Birmingham priced from £24,000-£190,000.
A mid-terraced house at 90 Southgate Road in Great Barr is one of the lowest-priced lots, with a guide price of £24,000-£29,000. The three-bedroomed home stands back from the road behind a front garden and has two reception rooms, a kitchen and rear lean-to downstairs, with three bedrooms and a bathroom upstairs.
At the other end of the scale is a large four-bedroomed, mid-terraced house at 705 Coventry Road in Small Heath, with a guide price of £190,000-plus.
While in need of improvement, its attractions include a hall, three reception rooms, dining kitchen, rear lobby and bathroom downstairs, with three bedrooms and another bathroom upstairs and a fourth bedroom on the second floor.
With front and back gardens, central heating and double glazing throughout, this lot is potentially suitable for conversion to a house of multiple occupancy or other uses, subject to planning.
The Birmingham homes, Cornwall holiday park and Sutton Coldfield property are just a few of the 211 lots listed in Bond Wolfe’s next auction which starts at 9am on Thursday September 9.
The auction will be live-streamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet only. More details are on Bond Wolfe’s site or via email at email@example.com.
Summer smash continues for SDL Property Auctions
It may be a traditionally quiet period for the property market, but SDL Property Auctions has broken the record for the biggest August sale in the UK for the second year running.
The live-streamed property auctioneer geared up for its National Property Auction which took place yesterday (August 26) after launching its latest interactive digital catalogue, featuring more than 200 lots.
For buyers, it was the last chance to secure a property before the final reductions in stamp duty holiday rates are lifted. The nil rate band which currently applies to properties up to £250,000 will return to the standard amount of £125,000 for properties which complete in October onwards.
Among the houses with guide prices that fell within the stamp duty holiday threshold were two character cottages in South Derbyshire.
On the outskirts of the village of Etwall with beautiful views to the front, the ‘beautifully presented’ 1 Milton Terrace in Willington Road was said to be an ideal purchase for a first-time buyer with two double bedrooms, driveway parking and a guide price of £137,000-plus.
In nearby Findern, a double-fronted period cottage close to the village green was offered for sale in partnership with Hannells with a guide price of £200,000-plus. Well-presented throughout, 5 Main Street features a spacious lounge with a log burner, separate dining room, fitted farmhouse kitchen, three bedrooms and a low-maintenance courtyard garden with a useful outhouse.
Further north, 55 Worsley Avenue is a well presented semi-detached house offering spacious accommodation throughout, including a spacious living room, a fully integrated kitchen with an open-plan dining room space, and four double bedrooms. It was guided at £150,000-plus.
Andrew Parker, managing director and auctioneer, comments: “We had some absolutely stunning homes going under the hammer in our August National Property Auction, busting the myths that auctions are just for a certain type of property. As well as investors looking to add to their portfolio and developers seeking their next project, we also cater for private buyers looking for a new home.”
The live-streamed auction featured over 200 properties, with bidding available online, on the phone or by proxy.