Allsop auctions raise over £1bn in 2024

Allsop, a leading property consultancy and the UK’s largest property auction house, raised £45 million from the sale of 181 lots at its December residential auction, achieving a success rate of 83%. This brings the total raised by the residential auction team in 2024 to over £610 million, with more than 2,548 lots sold, and the overall total across residential and commercial auctions to over £1bn.

The highest-priced lot to sell on the day was a freehold mid-terrace mews house in Knightsbridge, London, which sold for £1.63 million from a guide price of £1.5 million.

Richard Adamson, managing partner and residential auctioneer at Allsop, said: “Our two-day December residential auction caps a phenomenal year for Allsop’s auction business, with over £1 billion raised in 2024 and 3,129 lots sold. The residential team alone contributed in excess of £610 million, achieving an average success rate of over 85%, compared to the industry average of 70%. For most transactional property businesses, 2024 has been incredibly challenging, with political and economic turbulence cooling early confidence as interest rates came down. These results are therefore all the more impressive, underscoring the value buyers and sellers place on our auction services for securing timely transactions at the best price.”

The latest auction also saw the debut of Allsop’s newest auctioneer Gabriella Brunton, who joined the firm in 2015.

Residential auction highlights include:

• Lot 14: Knightsbridge, London – a freehold well-located mid terrace mews house sold for £1.63 million from a guide price of £1.5 million
• Lot 193: Oldbury, West Midlands – a freehold site extending approx. 2.27 acres sold for £1.37 million from a guide price of £50,000 plus
• Lot 92: Romford, Greater London – a freehold site with lapsed planning for 22 houses sold for £1.28 million from a guide price of £850,000
• Lot 157: Garden Walk, Cambridge – a freehold detached building sold for £845,000 from a guide of £550,000

Allsop’s next residential auction will take place on Tuesday 28th January via live stream.