Posted on 27th October 2015 by Jordan Holmes
Property sales at our East Midlands auctions have brought in over £10 million so far in 2015. This is due, in part, to an increase in popularity of property auctions and a change in perception. Once, auctions were viewed as a way to sell run down properties to investors, but now the advantages of property auctions are being recognised by all types of buyers and sellers.
The East Midlands Property Auction has carried out 96 sales since the beginning of the year, this includes a wide range of different property types and includes development opportunities, commercial property and plots of land. Properties received an average sale price of £113,227 with some selling for up to £300,000.
The market in the Midlands has grown significantly since the launch of the East Midlands Property Auction in 2011 when the average sale fee was around £65,000. This has now risen to around £110,350.
As our offerings include both traditional and modern methods of auction the appeal to buyers has grown, along with the choice of stock. Offering both methods also has a positive appeal to sellers creating a greater choice and more flexibility. These factors can be accredited to the increasing success of our East Midlands Property Auction. The East Midlands Property Auction works alongside some of the region’s largest independent estate agents to ensure a wide range of quality stock and a great service.
The East Midlands Property Auction is held every eight weeks at The Bentley Hotel in Lincoln.
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A recent report from the HomeOwners’ Alliance (HOA) was critical of some auction operators including us, as well as estate agents and highlighted confusion from buyers and sellers and not enough transparency from some agents. The HOA raised concern over the reservation fee paid by the successful buyer. “This must be paid upfront by the winning […]Read more
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