Romans Auctions has announced that it has had its most successful year since 2007 with more than £22million of property selling across South East England during 2013.
The firm said that some 85 per cent of property at Romans Auctions successfully sold, ahead of the national average of 76.7 per cent.
Simon Clayton, Romans's Auctions Director, said that if executed correctly the auction process created the most competitive environment to achieve the best price on that day.
"More and more sellers are seeking the certainty of a definite sale by choosing the auction method," he said. "They love the fact that a binding exchange of contracts is formed on the fall of the gavel."
Romans's most successful auction was its final one of 2013. More than £5million of property was sold in the December auction; the highest amount at a residential auction in its region since March 2008.
"We didn't have enough supply to satisfy demand in 2013, however the signs are there that many more sellers are prepared to sell by auction next year, which is good news for everyone," Clayton said.
He predicts that selling prices will continue to rise in line with supply and demand.
"With a lack of properties for sale across the region a lot of sellers are securing a brilliant price. I also believe demand will increase for vacant residential property, especially for houses and flats in the more affluent postcode areas," Clayton said.
"Investors will experience increased competition from owner occupiers for residential property requiring improvement. And we will see more demand for mixed use buildings, in any condition."
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