The UK’s largest property auction house, Allsop, raised £34m from the sale of 141 lots, representing a success rate of 92%, at its latest auction.

Highlights include the sale of a pair of freehold semi-detached buildings in Worcester, Worcestershire which sold for £930,000 having been guide priced at £225,000, with over 50 buyers registering to bid.  Also proving popular with buyers, with circa 50 bidders registering, was the freehold building in Darlington, County Durham which sold for £990,000 having been guided at £225,000.

Following strong buyer demand witnessed at the firm’s record-breaking July residential auction which raised £67.5m, Allsop’s August auction provided investors with an additional opportunity to secure appealing and well-priced residential assets across the UK.

Richard Adamson, managing partner and residential auctioneer at Allsop, says: “While August is typically a quieter month for property transactions, our recent auction proved popular, with over 2,000 bidder registrations. In the past four weeks alone, our residential auction team has achieved over £100 million in sales, boasting a success rate of 92%, well above the industry average of 75%. 

“Despite a challenging market, our extensive experience continues to attract those looking to sell their assets quickly and at an attractive price. As we prepare for our September auction, early indications suggest it will be another large sale, with many investors looking to recalibrate portfolios in anticipation of a capital gains tax rise.” Allsop’s next residential auction will take place on September 25 and 26 via livestream.