Property brand Auction House has experienced its most successful month in the company’s six-year history, with record numbers of lots being entered and sold in February.
A growing number were repossessions.
There were 19 auctions held across the UK with 385 lots offered and 294 lots sold, raising a record total of £28.4m.
Founding director Roger Lake said: “February has been something of a bonanza month for Auction House. There’s a growing realisation that properties sell for more money closer to home – and our auction rooms were particularly well attended, with a resurgence of interest from refurbishment specialists and buy-to-let investors.
“Most of our auctions had success rates of around 80% and three of them delivered 100% – including that from our newest auction room in Bedfordshire and Buckinghamshire.”
Part of the company’s success included a big rise (50%) in the number of sales of commercial property following the launch of Auction House’s specialist commercial service at the start of the year.
Lake added: “Our regional approach to selling property has made us the most successful residential auctioneer in the country in terms of lots sold. Now we are taking this winning formula and offering it to commercial sellers as well.
“We are also continuing to see more repossessions and receivership sales being made through regional auction rooms. Our centralised service means that lenders, asset managers and receivers can place properties with us via a single point of contact, and we can channel them through our auction rooms around the country, with a common charging structure and preferential rates.
“In short, a single phone call can now get lots into 28 auction rooms across the UK, where they can be expected to sell at higher prices.”
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