Leicestershire property buyers are definitely warming to the benefits of buying at auction, if the results of SDL Auction Graham Penny’s latest auction are anything to go by.

The auction at King Power Stadium, Leicester, on Friday 23 June saw more than £2.5 million raised with 20 lots offered.

This was the third auction SDL Auctions Graham Penny has held in Leicester this year and the third increase recorded.

Previous auctions in February and April raised more than £1.3 million and £2 million respectively.

The auction got off to a good start when Lot 1, 112 Wilberforce Road, Leicester, sold for 54% more than its *guide price of £85,000, with the hammer eventually falling after spirited bidding at £131,000.

The third lot, Flat 31, Eastfield Road, Thurmaston, also sold well achieving £61,500 from a guide of £45,000.

And the investment market is also looking good with a five bedroom tenanted property at 5 Selbourne Street, Loughborough, selling well for £175,000 from a guide of £135,000.

A farmhouse at 7 King Street in Sileby, which was offered with a guide of £350,000+ proved popular and sold for £446,000.

Andrew Parker, managing director and auctioneer at SDL Auctions Graham Penny, said: “It is encouraging to see our first three Leicester auctions of the year achieving better results each time and it proves the interest in sale by auction is growing.”

The next auction SDL Auctions Graham Penny is holding in Leicester is on Thursday, 10 August, starting at 11.30am at the King Power Stadium.