Auction House sells this year’s 2,000th property in a busy August

Auction House is reporting a busy and profitable August, with a success rate of 82% – a full five percentage points ahead of 2015’s figure of 77% – and a month which included the sale of the group’s 2,000th property this year.

The award-winning property auctioneer held seven sales across the country during what is traditionally a quiet period for the sector, selling 113 lots from 137 offered, and raising a total of £12m. Cumulative results are also ahead of last year; sales in the first eight months of 2016 totalled 2,044 lots, at a cumulative success rate of 78%, raising over £275m.

The 2,000th property sold was Kirk House & Old Manse in Laurencekirk, Aberdeenshire – with 5 bedrooms in the former church and 4 bedrooms in the manse next door, which sold at Auction House Scotland’s auction in Glasgow on 25th August, for £390,000.

Kirk House, Laurencekirk, Abderdeenshire - ext

Commenting on the group’s performance, Founding Director Roger Lake said: “This is another set of excellent figures during a challenging time for the industry – what with the uncertainty of Brexit and the continuing concern over the previous Chancellor’s additional 3% Stamp Duty for landlords and second home buyers. But we are now getting back to usual volumes, and I can also report that September entries are on a par with last year, at 530 lots”.

Old Manse, Laurencekirk, Abderdeenshire - ext

Roger Lake says that a recent spate of keen guides and realistic reserves are tempting buyers to return to the country’s auction rooms in significant numbers.

He explained: “A new norm is being created out there. Although we may not be back to what you might call a regular auctions market yet, we are certainly moving in that direction. More and more people are appreciating that selling property under the hammer is a faster route to a sale.

“Whilst some investors remain cautious, others see the current climate as an opportunity, as property continues to be the highest yielding investment on offer to the general public. Demand in our Northern and Midlands sale rooms has remained strong throughout, and we are reporting good success in Scotland too.

“All in all, we remain genuinely optimistic and are now focused on getting back to normality as soon as possible”.

News shared from:

Property Publicity – Eric Dixon

Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

You May Also Enjoy

how to present your property for sale
Estate Agent Talk

6 Property Management Marketing Strategies For And Beyond

Did you know that over 70% of individual renters find their new homes on the­ internet? In our current digital e­ra, a sturdy online existence­ isn’t just an extra for property management firms—it’s a critical need. Nonethele­ss, with innumerable property administrators scrambling for visibility, how might your firm gain promine­nce? The solution is a de­tailed…
Read More
Estate Agent Talk

Strategies for Successful Real Estate Investment: Emphasising Luxury and Privacy

The appeal of luxury real estate lies in its ability to combine opulence with exclusivity, offering more than just a property but a lifestyle investment. For those seeking to enter this lucrative market, understanding the nuances of where and how to invest is crucial. As we navigate through key strategies for successful real estate investments,…
Read More
Estate Agent Talk

Leasehold and Freehold Reform Bill – Thoughts from the Industry

The Leasehold and Freehold Reform Bill has become law with the Act making it easier and cheaper for leaseholders to buy their freehold, increase standard lease extension terms to 990 years for houses and flats, and provide greater transparency over service charges. The Act will also remove barriers for leaseholders to challenge their landlords’ unreasonable…
Read More
Who are Rentd
Letting Agent Talk

Renters (Reform) Bill Dropped – Thoughts from the Industry

The Renters (Reform) Bill has been dropped as a result of the general election being called. Here are some thoughts from within the property industry. Ben Beadle, Chief Executive of the National Residential Landlords Association: “It is hugely disappointing that this Bill will not now make it into law. The news comes despite the fact that…
Read More
Estate Agent Talk

July 4 General Election – Thoughts from the Industry

Prime Minister, Rishi Sunak has called a general election for July 4, 2024, citing now being the time for the people of Britain to choose the next government. Here are some thoughts from within the property industry. Tim Bannister, Rightmove’s property expert: “A look back at recent elections shows that house prices and activity usually…
Read More
Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker

Matt Smith, Rightmove’s mortgage expert said: “Today’s inflation drop feels like an important milestone on the road to the first Base Rate cut. There’s been some to-ing and fro-ing over whether we’ll see a summer Base Rate cut, but today’s news will likely reinforce some of the positive words coming from the Bank of England…
Read More