Residential Auction Market
Overview
The summer period (Q2) has brought optimism amongst buyers and sellers alike, with the prospect of reduced interest rates becoming increasingly visible and a change of government. This renewed confidence has been reflected in the robust performance of the residential auction market during this quarter.
Allsop Residential Auctions has demonstrated its market-leading position, selling almost £105M worth of properties within this period from only two auctions. Our success rate of 85% (Q2) is a testament to our clients' success and significantly outperforms the Auction industry average of 70% for the same period [1].
The total amount sold this calendar year to date now exceeds £270M at an overall success rate of 87%.
Q2 - 2024 Results:
Lots offered
Lots sold
Success rate
Total raised
Total Results – Calendar Year 2024:
Lots offered
Lots sold
Success rate
Total raised
Our June auction result, realising £57,109,198, is the highest amount achieved since February 2012 [1]. This remarkable outcome demonstrates the increasing appetite amongst buyers and sellers within this quarter, as confidence in the residential auction market continues to grow.
Who is buying?
The buyer profile continues to be the private investor / professional buyer within our arena who see opportunity to add value, create rental growth or receive regular income. This has been unchanged in the main for this calendar year thus far.
Direction of Travel
As we move into the second half of 2024, the residential auction market is poised for continued momentum and increased appetite amongst all buyer groups. With interest rates set to be reduced within Q3, the market is expected to benefit from more favourable borrowing conditions and competitive buying opportunities.
The residential market has always been popular with private investors, who may now have the opportunity to re-enter the market with reduced finance costs and attractive investment prospects. This renewed interest from private investors, coupled with the anticipated economic changes, is likely to drive further growth and activity in the residential auction sector.
Allsop Residential Auctions remains committed to delivering exceptional results for our clients, leveraging our market expertise and extensive buyer network. As the market continues to evolve, we are well-positioned to navigate the challenges and opportunities that lie ahead, ensuring the best possible outcomes for our clients.
Lot 239A
121 West End Lane, West Hampstead, London, NW6 2PA
Sold: £1.52M
- Freehold Mid Terrace Building arranged to provide six self-contained flats
- Comprising One x 2 Bedroom Flat, One x 1 Bedroom Flat and Four x Studio Flats
- Each Flat is subject to an Assured Shorthold Tenancy
Lot 259
18 Market Place, Henley-on-Thames, Oxfordshire, RG9 2AP
Sold: £1.01M
- Vacant freehold building with planning permission to create six self-contained apartments and a retail unit
- Proposed Scheme to provide a Retail Unit, 5 x One Bedroom Apartments and 1 x Two Bedroom Apartment