In a storming start to 2022, Auction House London has sold the highest number of lots in one sale in over a year, at its February auction.
A record 1,339 bidders were registered to take part in the livestream sale which saw 90% of lots sold raising almost £25m (£24,866,699).
Auctioneer and Director of Auction House London, Andrew Binstock, said: “The market continues to remain incredibly strong with demand for property extremely high. Imagine trying to fit more than 1300 people into one auction room! That’s why our livestream sales work so well, giving buyers the ability to take part online, while still having all the benefits of a live auctioneer conducting the bids in real time.”
In Hounslow, a three-bedroom semi close to the Piccadilly line and in need of updating was guided at £275,000 before selling at £488,500.
Also in need of some refurbishment was a first and second floor maisonette in Catford with 124 years of lease remaining. It was guided at £150,000 and sold for £281,000. Similarly, a three-bedroom semi in Borehamwood, near good transport links, was guided at £375,000 before the hammer came down at £514,000.
Andrew added: “Unmodernised homes and land are proving extremely popular with buyers, and properties are regularly selling above their agreed reserve price. Competition is so strong at the moment – which means it’s the perfect time to sell in the competitive arena of an auction room. There seems no end to the appetite from buyers and it’s definitely a sellers’ market.”