It’s been a busy month for us at Auction House. Read on to learn more about our results, including our most unusual and popular properties.
The clocks have gone back and the nights have drawn in, but our auctioneers have kept up the energy to value new lots and keep bidder competition high.
As a result, we achieved a 70% success rate in October, and we’re looking to maintain this momentum right up until the end of the year.
To shine a clearer light on our performance, here is a round-up of our activity in October.
The month in figures
In October, our auction houses across the country hosted a grand total of 17 auctions online, via livestream or in-person.
In these auctions, we achieved a 70% success rate with 609 lots sold, maintaining our performance from September. Overall, these auctions raised a fantastic total of £79,422,685, an increase on the £79,005,100 raised the month before. This also marks a 31.7% increase year-on-year: in October 2023, we hosted 10 auctions across the month, raising £60,291,551.
Our largest auction of the month was held by Auction House London, which had a total of 284 lots. They achieved a 74.3% success rate, raising £36,880,060 in the process.
The lot that was streets ahead
When it came to extraordinary lots that got people talking, an offering in Cumbria was undoubtedly the winner.
Towards the end of the month, Auction House Cumbria entered a whole street for auction, something that quickly caught the attention of both bidders and the press. In total, seven terraced properties on Garden Street, near Carlisle, were available for a combined guide price of just £250,000, a bargain price that represented an incredible opportunity for a developer.
Many bidders stepped forward to snap up this investment, which sold under the hammer for £360,000.
All eyes were on this
The popularity contest was tight this month, but 1 Griffin Lane in Norwich took the top spot as the most-viewed property.
A non-standard-built detached bungalow, this property boasts an enviable position close to the River Yare. With a private garden and good access to both the Broadland Business Park and Norwich Southern Bypass, it presented an attractive proposition.
Offered by Auction House East Anglia, this lot sold for £114,500, well above its guide price of £40,000. Sold as a vacant property, the new owners now have the option to create a beautiful riverside home or a lucrative rental opportunity.
Book a free valuation with us
If you’d like to talk to us about auctioning a property or piece of land, please get in touch! Selling via auction is a fast and straightforward process, and our auctioneers will work with you to get the best possible outcome.
Book a no-obligation valuation with us today to find out if auction is the right fit for you.
