Allsop’s residential auctions generate over £100m in sales in 4 weeks

We raised £34 million from the sale of 141 lots (representing a success rate of 92%) at our August residential auction.

Highlights include the sale of a pair of freehold semi-detached buildings in Worcester, Worcestershire which sold for £930,000 having been guided at £225,000, with over 50 buyers registering to bid.  Also proving popular with buyers, with circa 50 bidders registering, was the freehold building in Darlington, County Durham which sold for £990,000 having been guided at £225,000.

Following strong buyer demand witnessed at the firm’s record-breaking July residential auction which raised £67.5 million, our August auction provided investors with an additional opportunity to secure appealing and well-priced residential assets across the UK.

Richard Adamson, managing partner and residential auctioneer, said: “While August is typically a quieter month for property transactions, our recent auction proved popular, with over 2,000 bidder registrations. In the past four weeks alone, our residential auction team has achieved over £100 million in sales, boasting a success rate of 92%, well above the industry average of 75%. Despite a challenging market, our extensive experience continues to attract those looking to sell their assets quickly and at an attractive price. As we prepare for our September auction, early indications suggest it will be another large sale, with many investors looking to recalibrate portfolios in anticipation of a capital gains tax rise.”

Residential auction highlights include:

• Lot 16: Courtfield Gardens, Kensington – a self-contained lower ground floor flat sold for £950,000
• Lot 17: Hemsworth, West Yorkshire – a freehold detached building sold for £670,00 from a guide price of £165,000
• Lot 24: Larchfield House, Darlington – a freehold substantial corner building sold for £990,000 from a guide price of £225,000
• Lot 38: Ombersley Road, Worcester – a pair of freehold semi-detached buildings sold for £930,000 from a guide price of £225,000

Our next residential auction will take place on 25^th and 26^st September 2024 via livestream.