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Awesome August for Auction House

The Negotiator

Link to Auction NewsAuction House sales were boosted in August as supply improved and demand remained high during the traditionally slack holiday month. There were sales of 90 lots from 124 offered at a steady success rate of 73% (72.6%) with £12.4m (£12,421,000) raised.

This year’s result was more than two-thirds up on 2019 – proof of the higher activity level and strengthening performance of the sector.

Commenting on the month, Founding Director Roger Lake said, “What we are experiencing now is a perfect window of opportunity for sellers. Indeed, there are three key reasons why those with surplus properties should get them entered into our forthcoming auctions in September, October and November.

He went on, “Firstly, the auctions market is buoyant; selling prices have risen and buyers are plentiful. This is undoubtedly in part down to the current Stamp Duty holiday,

“Secondly, commentators are suggesting that potential changes to Capital Gains Tax may soon be announced.

“Thirdly, past experience shows that vacant properties can deteriorate significantly during the winter months – and therefore our best advice is to sell before the weather breaks.”

www.auctionhouse.co.uk

October 1, 2020

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