Auction House claims new UK record with 703 listings in February
Award-winning property auctioneer Auction House is declaring a new UK auction record, after entering 703 lots into its February auctions.
The number instructed beats the figure listed in December 2016, which was the company’s previous highest ever total.
Commenting on the achievement, Founding Director Roger Lake said “Never before has an auctioneer entered over 700 lots into its auctions in a single month. It’s a remarkably buoyant start to the year, which signals a noticeable resurgence in auction activity. It means that more sellers are choosing the auction route to market, their confidence levels are raised and the sector is back in the ascendancy.
“The dampening effect of Brexit is largely behind us, uncertainty and indecision has gone, and we are moving back to normality. Buyers are returning too, with our first set of auctions this year delivering excellent results.”
Roger Lake says that the company’s impressive performance provides a marked contrast with the current fortunes of the private treaty market. He explained: “At a time when estate agents are experiencing a shortage of instructions, our regional auction rooms report an improving number of entries. The mix of stock is interesting as well – we’re including more good condition modern flats and houses in our catalogues, commercial instructions are on the rise and we’re seeing an increase in the parcels of land coming to market.
“Our mix of buyers is also changing. We are helping more first time buyers to purchase and others for owner occupation, buy-to-let investors have returned and seem to be less perturbed by adverse government policy, and there’s been a big rise in numbers seeking to buy commercial properties as investments.”
Growth plans are being put in place at Auction House in 2017, with the launch of Auction House Bristol & West and new auction rooms being added in Luton, Peterborough and Reading. More commercial instructions are being targeted with the new venture ‘Auction House North West Commercial’, plus the Auction House London sales room is moving to the capital’s Marriott Hotel Regents Park, with a record catalogue of 138 lots entered into their first event of the year on 22 February.
Roger Lake added: “As a group, we don’t hold auctions in January – which means that we have had two record auction months in succession. It appears that our unique combination of regional sales, local knowledge and personal service has provided an impressive start to 2017, which only bodes well for the rest of the year.”
Breaking News by Property Publicity – Eric Dixon eric@propertypublicity.co.uk
You May Also Enjoy
HMRC ramps up scrutiny of residential property valuations as it cracks down on inheritance tax avoidance
Renters urged to understand their new rights before major law change
The Foundation of Your Home: Why Your Subfloor Dictates Your Flooring Destiny
Almost £1.4m difference in property prices between the start and finish lines of London Marathon
Demand drops year-on-year for commercial property from high base
