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Caution in the auction room could be costing investors
Investors that wait to pick off unsold lots after auctions could often get a better deal in the ballroom.
Post Summer Property Auction Results
Our first sale after the summer break was a welcome return to the market with a 70% success and several post-sales in hand.
July auction raises over £6.5m
Our sale on July 16th raised £6.5m with a further £2m now under offer, but the results mirrored the sentiment of uncertainty and caution running through the property market and the economy generally.
May auction raised over £8.6m
Our sale on the 22nd of May raised over £8.6m from a busy room where there was confident bidding on the majority of lots.
91% sold at February auction
Strettons’ first sale of 2018 produced a 91% success, raising £7.5m.
£12.5M raised at strong Autumn auction
Strettons’ October auction showed a healthy buyer interest, especially for properties within the southeast, raising over £12.5m on a 74% success rate with post-auction sales set to increase this.
Buyers Spring to action at March sale
Our 27th March auction brought a good turnout of bidders with brisk competition to produce an 88% success rate.
Deciding to sell at auction
Deciding whether to sell by public auction or private treaty is ultimately about what is right for the seller. Auction, however, does provide a higher degree of certainty which can be very appealing, especially if time is a factor in the sale as once the gavel falls a legal and binding contract is made