UK’s leading property auctioneer raises £57.3m on 159 lots at its September residential auction, with a success rate of 79%
Lot 118, a freehold building in Willesden Green, sold at £1.3m- the highest value lot to go under the hammer
The September auction saw more than 1,166 bidder registrations, with 5,770 bids placed throughout the day
Allsop’s sixth residential auction of the year raised £57.3m on 159 lots, with a success rate of 79%. On the day of the auction, there were 5,770 bids and more than 1,166 bidder registrations. Of the 159 lots sold, 12 were purchased for £1m or above, while the average lot size was £360,439.
Richard Adamson, partner and auctioneer at Allsop, said:
“We’re thrilled to have raised £57.3m at our September auction, making it the largest residential sale for Allsop this year. Despite the easing of Covid restrictions, we’re still operating in an uncertain environment, which means residential property continues to be the asset of choice for many investors looking for predictable returns and stability. It’s great to see that the demand for residential property in the UK shows no signs of slowing down, and despite the end of the Stamp Duty holiday, the volume of buyers has anything but decreased.”
Over the past 11 days, Allsop has raised in excess of £160m from across its residential and commercial auctions. Since the start of lockdown, circa £1.4bn worth of residential and commercial property has been sold through the auction arm of the business.
Auction highlights included:
- Lot 118 – a freehold semi-detached building in Willesden Green, London, in need of renovation, sold at £1.3m (originally guided at £920,000)
- Lot 1 – an unmodernised two-bedroom maisonette in Islington, London, sold for £706,000, well above the guide price of £310,000, having received 396 bids
- Lot 6 – a freehold detached four-bedroom house in Epsom, Surrey, sold for £702,000 (originally guided at £350,000), with 59 buyers having registered to bid for the property
- Lot 113 – a partially completed freehold development sold at £712,000 (originally guided at £350,000)
Allsop’s next residential auction will be held online on 9 November 2021.