Residential Auctions Market

“It is possible that the terms of Brexit, if it happens, will not be settled within the next 12 months. But this is an uncertainty that our market has been living with for the past two and a half years. In that period, the auction room has continued to trade. There has been no stagnation, no drop in the volume of transactions and no less enthusiasm to do business.”

The year ended on a very positive note despite disarray in Westminster and the prospect of a

no deal Brexit. December’s sale recorded a total of £58.4m - up £27% on December 2017 - and

brought the 2018 residential sales total to £408m with 79% of lots sold. The result was down on

2017’s £425m. Against the background of wider economic tremors, we are pleased with the

outcome. We have outperformed the auction industry average success rate of 74%. Traffic

to our online catalogue has been higher than ever before and there has been no abatement in interest in the stock that we have selected for our market. The overall conclusion from the year though is that realistic pricing is paramount.


Forecasting trends for the residential auction market and the wider economy over the year

ahead has never been more difficult. The only thing that is certain is more uncertainty. Expect

the unexpected. At the time of writing, it is not unlikely that the terms of Brexit, if it happens, will

not be settled in the next 12 months. But this is an uncertainty that our market has been living

with for the past two and a half years. In that period, the auction room has continued to trade.

There has been no stagnation, no drop in the volume of transactions and no less enthusiasm

to do business. Sellers will need to respect buyer sentiment however, and only realistic pricing will see the hammer fall.

In that period, the auction room has continued to trade.

There has been no stagnation, no drop in the volume of transactions and no less enthusiasm

to do business. Sellers will need to respect buyer sentiment however, and only realistic pricing will see the hammer fall.


The example for effective auction marketing will be set by those vendors whose decisions to sell are not driven by the need to set aspirational reserves, in particular, sellers who have a duty to achieve best value on auction day but not to wait until certainty returns and values are on

the rise again. Those sellers include housing associations, local authorities, public bodies,

mortgagees and receivers. These lots will continue to form the foundation of a good catalogue. They will usually be reasonably priced and therefore much in demand.


Prospects for moderate to large scale development or conversion will be sought after. This area will be particularly active when underpinned by the potential for implementing schemes that serve the relatively stable markets of Build to Rent, Help to Buy, co-living, affordable housing, student and Houses in Multiple Occupation HMOs).