The UK’s leading property auctioneer Auction House is bucking the national trend, with a 14% rise in lots sold in 2015, compared to last year. This contrasts with the latest Essential Information Group picture of 4.8% drop in auction lot sales year on year.
During the first three-quarters of this year, the award winning auctioneer recorded 2,370 lots sold from 3,087 offered, at a success rate of 77%, and raising a total of £305 million.
Commenting on the figures, Edward Feather of Auction House Cheshire and North East Wales said: “Auctions have gone from the method of last resort to one which is often the preferred route to market. We can also report that commercial sales are up, and we are seeing more land parcels being successfully sold as well. Demand for residential investments has improved, with buy-to-let landlords particularly active.”
“Now we are targeting a busy final quarter and expect more vendors to choose auction because it is the only method that can deliver speedy completions before the end of the calendar year and the onset of winter.”