Derbyshire based property auctioneers, Graham Penny Auctions, is looking to continue the momentum from last year ever by inviting entries for its first auction of 2016.

The auction, being held on 24th Feb at the iPro Stadium, is the first of seven to be held in the city this year.

Auctioneer Graham Penny said: "Now is an excellent time to sell by auction for many reasons. Anyone who owns a vacant house might want to sell it with us before the cold weather causes problems with the pipes and leaves a big plumbing bill. Or maybe landlords might have one or two properties to dispose of which will need upgrading soon and they don't want to incur the refurbishment costs.

"It doesn't matter if the property is vacant or tenanted, if it's been recently renovated or needs a full scheme of upgrading – in fact those properties which need work can often sell the best in the auction room."

And with the additional 3% stamp duty on BTL investments and second homes from 1st April, there is the anticipation of busy auction rooms next month, as buyers will be aiming to complete on sales from the first auctions of the year, before this date in order to beat the stamp duty increase.​

Any landlords looking to dispose of properties or buy new additions to their portfolio should go to the auction room now to take advantage of the current lower rates. A 3% rise in stamp duty is a significant increase to consider when buying a buy-to-let or second property.