Allsop raises over £53.5 million in October residential auction

• Allsop raises £53.5M at its latest residential auction

• 178 lots sold, yielding a success rate of 82%

• 12 lots selling for over £1M

Allsop, one of the UK's leading property consultancies and the country's largest property auction house, raised £53.5 million across 178 transactions at its October residential auction, achieving a success rate of 82%.

The results reflect continued appetite from investors, developers and owner-occupiers for sensibly priced residential opportunities, despite ongoing economic headwinds and a backdrop of political and market uncertainty. Competitive bidding was evident throughout the sale, with strong participation across a broad spectrum of lot types, locations and price points.

Demand remained particularly resilient for investment assets offering secure income, value-add opportunities and properties with asset management or development angles. This was reflected in the performance of several standout lots, including a portfolio of five freehold terrace buildings on Park Street in Taunton, which sold for £1.56 million against a guide price of £500,000, and a freehold detached investment property in Barnet Gate, London, which achieved £1.665 million against a guide of £1.525 million.

The sale also highlighted the continued effectiveness of the auction model in creating transparency and price discovery. Well-positioned and realistically guided properties consistently drew significant interest, with a number of lots selling substantially above their guide prices following competitive bidding.

Richard Adamson, Partner and Residential Auctioneer at Allsop, said:

"Against a backdrop of continued economic and political uncertainty, the residential auction market remains stubbornly robust, as demonstrated by another strong set of results from last week's sale.

Committed and focused sellers who bring well-priced assets to market are continuing to find buyers, with competitive bidding evident across a broad range of residential sectors and locations. Buyers remain discerning, but where they recognise value, they are prepared to compete.

The depth of demand we continue to see reinforces the important role that auction plays in providing sellers with speed, certainty and genuine price discovery.

We are still taking entries for our November sale, which is already shaping up to be another large auction, and we would encourage sellers considering a sale before the end of the year to get in touch."

Highlights from the auction included:

• Lot 28, Willow End, Hendon Wood Lane, Barnet Gate, London, a freehold detached house, sold for £1.665 million against a guide price of £1.525 million

• Lot 156, 19, 21, 22, 23 & 24 Park Street, Taunton, comprising 5 terraced buildings achieved £1.56 million against a guide of £500,000 following competitive bidding

• Lot 9, 46 Cloudesley Road, Islington, London, a vacant freehold Grade II listed four-storey building, sold for £1.335 million against a guide price of £1.05 million+

• Lot 60, 1-8 Baffins Court, St Pirans Avenue & 6 Tangier Road, Portsmouth, a freehold investment comprising nine self-contained flats producing £112,440 per annum, sold for £1.2 million against a guide of £950,000+

Allsop's next residential auction will take place via livestream in November.