Growing public confidence in the merits of buying and selling property at auction led to record monthly sales for Auction House during July.
While temperatures soared the award winning national franchise sold 379 lots, an improvement of over 8% on its previous best, raising a total of £38.5 million.
Among the many highlights of the record-breaking month were 85 per cent, 94 per cent and 100 per cent success rates for Auction House Liverpool, Auction House London and Auction House Hull & East Yorkshire respectively.
Speaking about the results, Director Oliver Adams said they were not only “brilliant” for Auction House, but they are also an indication the buoyancy of the sector as a whole.
“As our numbers demonstrate, regional auctions are becoming more and more popular,” he continued.
“But it’s the increasing consumer confidence in the auction method of sale that is the important driver.
“With auction fast becoming a mainstream alternative to private treaty in the regions, the public is now deliberately choosing auctions for the speed and certainty they provide in a difficult-to-read property market.”
Mr Oliver added that, where once auctions were considered a “last resort”, they are increasingly becoming the first choice method for many – which can only benefit the wider property market.
Auction House’s success has led to the opening of an auction room in Aberdeen and new collaborations in North Wales and the South West. These bring the number of auction rooms across the UK to 40.
Story: Neil Bird
Photo: Stuart Miles at FreeDigitalPhotos.net
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