The auction, on Wednesday, January 22, saw 13 lots going under the hammer at the Attractions Restaurant at Beverley Racecourse, raising just short of £1 million for sellers, and proved yet again that buying and selling via this route is a successful way to achieve a quick sale at a strong open market price.
The auction from Auction House Hull & East Yorkshire was the first auction of the year for the national network of property auctioneers and set the benchmark, with 77% of properties selling. This follows an extremely busy 2019 that saw six auctions raise sales in excess of £6.6 million for clients, an increase of 70% on 2018 and the average success rate was also up from 62% in 2018 to 75% in 2019.
The auction included a strong mix of residential and commercial properties including flats, houses and shops, many selling for well above guide price.
A period family home in Beverley sold for £37,000 above lower guide to a delighted buyer with their heart set on this Victorian terraced townhouse in Westwood Road, a highly sought-after location in the town.
Three terraced houses in and around the Hull area had all attracted lots of interest from potential buyers pre-auction and all sold for above guide prices on the night.
A two-bedroomed cottage set in open countryside in Thornton-Le-Fen in Lincolnshire gathered considerable interest pre-auction and sold for £8,000 above the guide price of £66,000.
Simon Dee, business development partner at Auction House Hull & East Yorkshire, said: “It was a strong set of lots for our first auction of the year and many had gathered considerable interest before the actual auction evening. It was a packed room and many of the lots sold well above guide price, which is continued proof as to why sellers are choosing the auction route. The very nature of selling property at auction finds buyers quickly and enables sellers to turn property assets into cash without delay.
“Despite media reports of problems in the property market, we are continuing to buck the trend. The auctions market is still busy and delivering strong results. We are set for another strong year of results for our clients.”