Auction House reached the milestone figure of 1,750 lots sold in 2014 at the end of August, raising the award-winning group’s results by 13 per cent on last year, and underlining its position as the No. 1 residential property auctioneer in the UK.
Toby Wheatley commented: ‘These are seriously impressive figures – particularly as demand in the sector slackened over the summer months.
After a very hectic first half of the year, some auction buyers took a well-earned rest over the holiday period. The dip was similar to that experienced in the private treaty market, but it is best described as temporary and seasonal.
‘By comparison, September showed an upturn, with over 500 lots catalogued for Auction House sales and some encouraging early results.’
Auction House held 20 auctions in September with 511 lots entered, taking the group’s total number of lots listed in 2014 so far to 2,650.
Toby Wheatley added: ‘We’re starting to see a genuine return of activity this season, and in particular more sellers across the country are now choosing to sell their properties under the hammer. We expect the sector to grow further as the auction method attractions of speed and certainty are chosen by vendors with a real need to sell.
‘In addition, noticeable trends over the summer have been the increased popularity of building land, strong competition for refurbishment lots and healthy interest levels in commercial properties. All of these reflect the confidence gathered from rising prices and the renewed belief that property returns will remain the best available for private investors’.
The Auction House website is currently the most active in the auctions sector, with over 750 lots currently showing onauctionhouse.uk.net
The next sale for Auction House Pearsons is at The Solent Hotel, Whiteley on Wednesday December 10.