Residential Auction Market
We witnessed strong demand for well-priced income producing investments and value-add opportunities such as sites with planning consent or redevelopment potential, which seems to be an ongoing trend. The ground rent market continues to be popular amongst property groups and private investors looking for secure long term income streams
As ever, pricing is key in a market that has become more reliant on cash investors over the past few months. In challenging times there is always a flight to quality and therefore the adage ‘location, location, location’ has never been more accurate. Our result does send a very clear message that well priced and well-located assets are still very much in demand, and auction is the preferred route of sale for many vendors in turbulent times when selling swiftly, with certainty and at the best price is one of the primary objectives.
Raised in our November Sale
Overall success rate
Amount sold this year
Auction Highlights Include
Balham, London, SW12
A freehold semi-detached building arranged internally as two self-contained flats, sold for £1.34M from a guide price of £900,000+
Putney, London, SW15
A freehold HMO with planning consent to convert into a single dwelling, sold for £2.25M from a guide price of £2M+, having received bids from multiple interested parties
Luton
A freehold former university halls of residence providing 50 bedrooms and two ground floor offices, with planning permission for 28 self-contained flats, sold for £1.6M from a guide price of £1.25M+.
County Durham
A freehold new build development of seven houses, part vacant/investment, sold for £555,000 from a guide price of £250,000- £300,000.
Preston
A freehold mid terrace building arranged to provide five bedsitting rooms each subject to an Assured Shorthold Tenancy, sold for £215,000 from a guide of £150,000+.
Hull
A freehold vacant semi detached three bedroom house sold for £76,000 from a guide price of £45,000+
