Allsop’s latest residential auction in London raised £51 million, with strong interest from UK and overseas investors.

17 lots sold for over £1 million, including Grade I listed Bere Court in Pangbourne, Berkshire (pictured) which sold for £2.15m.

The year-on-year auction results are similar, with £55 million raised and 14 lots valued at over £1 million sold at the July auction in 2015, showing little impact from last month’s Brexit referendum result.

Auctioneer, Gary Murphy said, “As the first major residential auction post-Brexit, it was important that our sale demonstrated continued confidence in property. Auctions are a good barometer of the market and buyers are keen to get on with business. In fact, bidding was often as heated as the weather, as bidders and observers filled the room.”

There was strong interest in houses and flats in London for refurbishment and occupation.

A four-bedroom maisonette in Canonbury Grove, Islington, N1, achieved £910,000 on a guide price of £640,000 after furious bidding.

Confidence of developers in the long-term was illustrated by the sale of The Elms Lawn Tennis Club in Stanmore, which offered an 0.876 acres site with potential for residential development, subject to planning, fetching £830,000 from a guide of £250,000.