Bidders from Japan and the UAE join UK buyers as auction demand remains strong
International buyers joining UK property auctions from overseas helped generate strong competition at a recent Dorset auction held by Symonds & Sampson, where 88% of lots sold and almost £3 million was raised for sellers. With bidders participating from Japan, the UAE and beyond, the results provide another indication of the broad appeal of UK auction property, while particularly strong prices were achieved for agricultural land, renovation projects and properties with development or investment potential.
Speaking after the sale, Auction Partner Meredith Wallis said, “We had a total of 24 lots in the auction, stretching from Cornwall, through Devon, Dorset, Somerset, and into Wiltshire. Buyers joined the auction from home and abroad, some of whom were on holiday, whereas other international bidders who reside abroad are looking to stay invested in the UK.
“The results show that there is still strong demand for small parcels of land; 5.78 acres at Gillingham sold for £228,000, 82% above guide, and 2.87 acres at Colehill near Wimborne sold for £122,000, 127% above guide.
“Properties for renovation also generated significant interest. Two cottages in Corfe Castle sold very well, and a 5-bedroom house at Shillingstone (pictured) sold for £430,000. A terraced cottage at Cranborne Wimborne sold prior to auction and a cottage at Bishopstone near Salisbury sold for £210,000. One of the most popular lots was a house at Buckland St Mary near Chard which sold for 10% above its guide.”
Looking after the Devon and Cornwall entries, Graham Barton was equally pleased with the results. “There are plenty of people looking for properties in the West Country and some of the prices achieved were well above expectations. 3.29 acres at Penzance sold for £100,000, 25% above guide, whilst a small parcel at Hayle made £40,000. Two shops in Redruth sold for £28,000, but the most excitement was for Keepers Cottage at Cannington near Bridgwater. The delightful three-bedroom detached cottage is set in 3.24 acres and is one of the best properties I have ever auctioned. Guided at £300,000, the hammer fell after sixteen bids at £432,000, 44% above guide.”
If you have land or property in Dorset and are considering selling, it may be worth exploring whether auction is the right route for you. You can request a free, no-obligation auction appraisal to discuss your options with a specialist.