Property auction success shows market demand
It was going, going, going, gone once again at Blundells Auction House auction in Sheffield with total deals worth more than £1 million exchanging hands and results bucking the national trend.Over 200 people turned out to see 85 per cent of the lots available sold with more potential sales from unsold lots coming over the forthcoming weeks.
The auction also saw Blundells Lucy Crapper, Senior residential Valuer and Auctioneer, picking up her gavel for the first time.
Blundells have held three auctions in 2008 with more than £4million pounds worth of property being sold under the hammer.
The latest figures available from the Essential Information Group for 2008 indicate that the percentage of lots sold across the UK is 62 per cent, however Blundells Auction House results have exceeded this with an average 88 per cent of lots sold for 2008.
Lucy Crapper from Blundells, said: “We are currently bucking market trends and this success, a total of over £1million of sales, proves there are still buyers out there who are happy to buy the right property.
“November’s auction generated more interest than in our previous auctions, which indicates that investors and owner occupiers alike are recognising the benefits of buying property at auction. The recent reduction in interest rates also encouraged more buyers to the sale room.
“I thoroughly enjoyed my first experience as an auctioneer. All my lots achieved over the top end of the last quote guide price, which I was delighted with. The Lot of the day was 211 Walton Back Lane in Chesterfield, a three bed semi detached which achieved £154,000, a fantastic result with the original guide being £110,000 to £120,000. All my vendors were delighted with the results and many attended the auction to watch their properties go under the hammer.
“We have seven auctions planned for 2009 and we are already taking Lot instructions, we’re positive next year will be just a successful at 2008”.
For further information, visit auctionhouse.uk.net
