Propery buyers from outside of the East Midlands are on the lookout for Nottinghamshire auction bargains.

Vejay Pal, senior valuer at Graham Penny Auctions, said: "We found that several of our buyers travelled to the auction room from outside of Nottinghamshire to purchase their new properties earlier this month.

"A number of terraced, semi-detached and detached properties sold well and we're hoping to continue this momentum into our March auction."

He commented: “Our auctions last month saw us enjoy our most successful month in our 10 year history. We achieved some excellent sale prices for our vendors thanks to the extensive pre-auction marketing and our busy auction room of bidders.

“Our viewing diary has been very busy over the past few weeks and we’ve seen hundreds of legal packs downloaded from our website so we’re hopeful of continuing that successful trend at Nottingham Racecourse next week.”

The last auction, held earlier this month, raised over £3.6m. These results highlight the positivity within the residential property market for private individual and investor sellers alike.

Vejay added: "The attraction of buying a property at auction is that it's a straightforward, transparent and quick process. On the fall of the hammer, the sale is secure, contracts are exchanged and the sale is completed within a month. Then the new owner can start reaping the benefits of the addition to their property portfolio."

Graham Penny Auctions has been the most successful auction house in the East Midlands each year since its inception in 2006, based on lots sold and revenue raised. In the past 10 years it has raised over £460m and sold more than 4,800 lots for clients in Derby, Nottingham and Leicester and in 2015 alone it raised more than £72.6m from 22 auctions across the East Midlands.