Auction House, the network started up by estate agents for estate agents, has taken the top spot as the UK’s number one residential property auctioneer.
It took the title for 2012 based on lots sold, following the release of end-of-year figures by Essential Information Group.
Beating off Allsop and Sequence Auctions, which vied for second place, the five-year old company sold more than 2,000 lots last year, raising £200.9m for sellers from 146 auctions held in 28 venues across the country.
Total sales increased by over 11% to 2,063 compared with the year before and Auction House recorded a success rate of 78.8%.
Roger Lake, founding director of the network, which was set up to enable estate agents to offer auction services, said: “This is yet another superb result for Auction House.
“We predict that the next 12 months will see auction become an increasingly popular way to sell as owners look for speed and certainty in what will undoubtedly be a challenging property market in 2013.”
The company also starts 2013 in fourth place in the top five auctioneers of commercial property. Interestingly, more and more local commercial lots are being entered into regional auctions, with Auction House well placed to sell both vacant and tenanted stock.
Lake added: “We expect to see a lot of movement by investors looking for bargains, particularly in popular rental areas. With rents increasing and a healthy demand from tenants, landlords are likely to snap up property in these places.
“Companies are also likely to be selling off buildings this year as they tighten their belts and review their property portfolio. This should lead to the emergence of some interesting lots, as they include both commercial and residential property with potential.
“In fact, one of the best things about property auctions this coming year is likely to be the variety of lots being offered. Alongside the repossessions and receivership entries, we are expecting more public sector disposals and a wide mix of private sale instructions.”
Auction House’s format is based on a regional network of franchisee local agents and auctioneers, giving it 28 auction rooms in England and Wales.
This year, it plans to hold 165 sales and sell over 3,000 lots.
Comments
I find this article misleading. After all Auction House is only similar to a franchise and is trying to make Auctioneers out of Estate Agents.
Last year they apparently sold 2,063 lots from 146 auctions. By my calculations that is only 14 lots sold per sale! Not a large number and most leading Auctioneers would be extremely disappointed with that return.
Estate Agent Today seem to promote Auction House at every opportunity. I wonder why?