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TODAY'S OTHER NEWS

Auctioneer bucks market and Brexit with improved business

Auction House says it has enjoyed a rise in its volume of lots sold this year, despite what it admits is “a more challenging selling environment.”

The auctioneer has sold 2,420 lots so far this year, compared to 2,409 at this point in 2016, at a combined total value of over just over £300.1m. The firm says this is despite what it describes as “the uncertainties of Brexit, political turmoil and future trading fears.”

Founding director Roger Lake says there are distinct regional variations. 

“Stronger success rates are evident in the northern half and some buyer reluctance noticeable in the south. We see the market coming back into balance, with keener guides and reserves delivering competing bids and healthy hammer prices.”

Lake also claims that this late in the year auctions are “the only solution” for those wanting to sell empty properties before the weather deteriorates.

“All too frequently we see properties that have suffered from the damaging effects of wind, rain, flood, snow and ice - and have lost value as a result. Sadly, it is too late to rely on the private treaty route, which has in many cases now become a four or five month process. What’s more, latest figures suggest that nearly a third of private treaty sales are falling through.”

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