Double record smashed in first sale of 2023

Auction property Eltham image
Dunkery Road, Eltham, SE9

 

Auction House London recorded a record-breaking sale in the first of this year, with the highest number of lots ever to be listed and the greatest number to sell in a single day.

The 12 livestream auction saw 178 lots sold, out of 208 offered, raising more than £30m.

Andrew Binstock - Auction House - image
Andrew Binstock

Auctioneer and Director, Andrew Binstock said: “Despite an extremely challenging market there was little let up from bidders with 86% of lots selling.

“It was a mind-blowing day on so many levels and we smashed two of our own records. Property and land with potential, where sellers are realistic about the guide prices they agree to set, are key. But it’s a formula which is clearly working for us when the current climate of the property market is so cool.”

Many homes are selling at more than £100,000 above the agreed reserve and guide prices. Highlights included a four-bedroom semi in Watford which sold for £391,000 from a guide of £250,000 and a three-bedroom end-of-terrace property in Eltham, where the hammer came down at £401,000 from a guide of £250,000. Both came with huge potential to create a fabulous home and needed refurbishing.

Auction property Watford image
209 Horseshoe Lane, Watford, Herts

 

At Streatham, south London, a bungalow on a large parcel of land attracted a different set of buyers looking for development and building potential. The site which doesn’t have planning permission in place yet was guided at £250,000 before selling for an astonishing £220,000 above this guide at £470,000.

Auction property streatham image
30A Gibson’s Hill, Streatham, SW16

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