Auction House, the UK's number one residential auctioneer, together with the Bristol and Somerset North franchise held its 30th July auction at the impressive Bristol Pavilion at the Bristol County Ground.
The diversity of the lots on offer ensured a packed auction room that delivered an overall success rate of 94 per cent with only one lot going unsold.
With sale prices from £9,500-1,150,000 there was something for all budgets. Lots on offer included several mixed use tenanted properties, houses for refurbishment, investment properties and land.
Symonds & Sampson’s auction on 31 July provided buyers with a selection of properties throughout Dorset, Wiltshire, Hampshire and Somerset. With buyers coming from all parts of the south and a strong contingent from London this resulted in some fierce bidding for many of the lots.
Dorset lots included; an industrial site in Shaftesbury which sold for £56,000; an interesting development/investment project in the centre of Blandford selling for £210,000; and a flat in Barrack Street, Bridport, which had been on the market with other agents for over 3 years, selling for £115,000.
New property listings across the UK fell 13% in July, with Scottish cities of Glasgow and Edinburgh recording the biggest falls of 30% compared to the previous month, according to the latest Property Supply Index by online estate agents House Simple.
While activity in the property market is usually lower during the summer than the rest of the year, the stock of properties up for sale has been at low levels well before the summer.
A quarter of the towns and cities that saw the biggest falls in new property listings in July were in the south west of England, said HouseSimple, which looked at the
Record numbers of buyers crowded into Romans’ sales room at the Green Park Conference Centre in Reading on Wednesday 29th July, to witness a bumper catalogue of property and land being sold. The packed sales room and competitive bidding resulted in 100% of the lots selling at or above their guide prices, some for significantly higher prices than their reserves.
“This was the busiest July auction that I can remember” says Simon Clayton, Romans’ Auctions Director. “Normally at this time of the year many people are away on holiday, but there was standing room only at the start, which was a very
Having got through the incredibly busy July (with 100% sales success rate for UKAL, I might add!), there is a slight breather whilst the majority of the auctioneers take a well deserved break.
The team at UKAL, of course, never rest (!) and have taken this opportunity to update the UK Auction List auction calendar with all the latest dates for future auctions - right through to October! We’ll continue to add more as and when confirmed by the auction houses, so keep checking back.
We will also be updating our database on a daily basis with all the unsold lots from the auctions, so check out
If you've decided on the property that you want to bid on, and have everything in place in order to attend the auction, then the final piece of advice, in the run-up to the auction, is to keep an eye on the 'guide price' (this is the price listed in the catalogue).
Before the auction, contact the auction house just to make sure the property is still available. Also make sure you have made a decision on what your maximum bid will be. This will be based on your view of the property's value (having carried out viewings and local searches) rather than the guide price, and on the money you have
People buy at auction for lots of reasons. They may want to move quickly or they could be looking for a plot of land to build on, a repossession, or quite simply they want a quick purchase without the risk of gazumping. Also, many buyers looking for investments buy at auction as a catalogue full of properties gives them lots of opportunities to choose from.
Buying a property at auction is both exciting and potentially profitable. It avoids all of the lengthy purchasing procedures that you usually have to endure and the risk of everything falling through at the 11th hour. At an auction, as soon
The 43,468 sq ft United House in York which has permitted development rights for residential conversion sold for £6.02m.
Of the five lots which sold for more than £2m, four were office properties and the sector accounted for more than half of the money invested at the sale.
Acuitus auctioneer, Richard Auterac, commented: “There is now serious interest in the regional office sector and it is the subject of concerted buying. “This is being fuelled partly by the scope for residential development, but experienced investors are also seeing that they can buy income-producing properties at good entry
Just a quick note to remind you that although many of the property auctioneers catch their breath in August, there are a few auctions taking place, and all those catalogues will be on-line as soon as they're released.
The September catalogues will start to be released from mid August onwards - if you're a member, you can check out the UK Auction List auction calendar which has been updated with all the latest future auction dates.
And in the meantime, check out all the unsold lots from the auctions to see if there's still a bargain to be had!
If you have a property that you're considering
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