According to the latest data from Essential Information Group, the number of lots sold in July auctions was down 13.3 per cent from a year ago, partly due to vendors holding back with 8.7 per cent fewer lots made available for sale.
Residential lots suffered more than commercial, with a 15.3 per cent year-on-year drop in homes changing hands, resulting in sales of £325.5m. Despite the fall, that was still the third-highest amount raised in July during the past 10 years — a period that includes the financial crisis and its aftermath, which auctioneers say brought the market to a virtual
Before the summer break, the commercial property auction sector shook off uncertainty caused by the EU Referendum as the Acuitus July sale exceeded expectations by raising £58m.
Investors targeted a wide range of commercial property as a total of 78 lots sold - 88% of those offered in the sale - with 20 achieving prices of more than £1m.
Acuitus auctioneer, Richard Auterac, comments: “In times of economic uncertainty, the auction room enables investors to access the type of income returns which are not available through other investment media.
Over the past few years, property auctions have become increasingly popular with buyers who want to avoid the traditional house buying chain.
At an auction, the sale is agreed as soon as the hammer falls, so there’s no risk of everything falling through at the eleventh hour. And you see all the other bids as and when they’re made. So there’s no chance of being gazumped and there’s a lot less that the estate agent can hide from you.
There is usually two to three weeks between the publication of the auction catalogue and the auction, so if you've decided you like the look of a property, the
SDL Graham Penny, the new name for the most successful auctioneer in the East Midlands, has today launched the catalogue for its next Nottingham auction and it features 35+ lots.
The catalogue, for the auction on Thursday 15th September at Nottingham Racecourse, includes 37 residential property, commercial property and land lots from across Nottinghamshire and the rest of the UK set to sell under the hammer.
Andrew Parker, auctioneer and managing director, commented: “In our next auction we have a wide selection of properties going under the hammer. It shows how the market is improving and how
Clive Emson's September catalogue offers another mouthwatering array of land and property across their regions; 137 lots in total covering from the eastern shores of Kent & Essex to the western tip of Cornwall; the southern coastline of the Isle of Wight to the M4 corridor, interspersed with a collection of urban, rural and semi-rural lots.
Among the lots on offer are some stunning period cottages and other vacant residential lots many ideal for the investment or owner occupier markets: Residential and commercial investments, vacant commercial premises, mixed use properties, land (of all
Putting up your hand and bidding on a property worth hundreds of thousands of pounds is a daunting prospect, even for experienced auction-goers. If you make the winning bid, you?ll usually have to pay a non-refundable deposit on the day, and you?ll have 28 days to pay the balance.
That means that the timeframe for auctions is much shorter than the traditional ways to buy property, and it can be difficult to get the funds together in time, even if you?ve got a lot of available equity in your property portfolio. Auction finance is a flexible product that can be tailored to suit individual needs
With £40m already raised for vendors across the East Midlands, SDL Graham Penny – the new name for the most successful auctioneer in the East Midlands – is inviting entries for its next Leicester auction.
The auction, on Thursday 29th September at the King Power Stadium, is SDL Graham Penny’s fifth Leicester auction so far this year and is set to feature a wide range of residential property, commercial property and land lots.
Andrew Parker, auctioneer and managing director, commented: “We have raised some excellent sale prices for our vendor clients across the East Midlands so far this year
Selling property at one of our future auctions will be cost effective, simple, fast and stress free. If you feel that this method of sale might be right for you, why not get the ball rolling and get in touch for a FREE VALUATION via our PROPERTY ENQUIRY FORM.
Selling at auction also widens the potential market, not only will there be buyers who want to make it their home, there'll also be investors, developers and property dealers interested in buying. In many cases an auction could prove to be the best method for selling your property and not just a
Successful regional property auctioneer SDL Graham Penny has announced its expansion into Stoke with its first auction taking place at the home of Stoke City FC.
The auction, on Friday 21st October at the bet 365 Stadium, will be SDL Graham Penny’s first auction in Stoke and its 17th auction so far this year. The company already holds regular auctions in Derby, Nottingham and Leicester and this new addition to the calendar will bring the total number of auctions to over 20 per year.
Andrew Parker, auctioneer and managing director, commented: “We have already raised more than £40m for our
Auction House, the UK’s most successful property auctioneer – which has a branch in North Wales - says that the time is now ripe for first time buyers to enter the auction room.
Claire Blezard says that she is noticing an increase in the number of first time buyers at the company’s sales, marking a big change from the days when cash-ready buyers were invariably the winning bidders.
She explains: “The introduction of the 3% Stamp Duty surcharge favours those buying for occupation – or what I call ‘buy-to-live’. Auction now provides a real opportunity for first time buyers to get a foot on the
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