Latest news in the auction sector

Property Investor Today features a round-up of the latest news from the auction sector, leading with SDL Property Auctions reporting positive results for its March sale. Andrew Parker, managing director and auctioneer, remarked: “It’s fantastic to see the variety of results we’ve been able to achieve this month for buyers and sellers across the UK. We’re proud to be able to offer property sales by auction that continue to benefit from a less than 1% fall-through rate, offering safety and security to our customers when they need it most.” Meanwhile, residential property auctioneer iamsold sold £107.7m worth of property through their Partner Agents in March alone, representing a figure of 35% growth in comparison with the same period a year earlier. Jamie Cooke, managing director of iamsold commented: “It’s so encouraging to see auction continue to rise in popularity. We have seen a continued increase in consumer confidence and awareness, which is evident in the number of bids we have seen across the last 12 months and certainly this quarter, where we are hitting record figures each month.” He went on: “Auction is a win-win for buyers and sellers in the current market, from the continued rise in sales prices achieved at auction to the timescale for completion, we’re seeing auction really stand up in the market as an option for more and more people.” Sutton Kersh Auctions' Spring auction on April 7 saw the firm sell property worth over £9.3m. Cathy Holt, associate director at the company, noted: “We offered a significant number of vacant and residential investment properties in this auction and once again they were exceptionally popular both prior to auction and on the day.” Property Investor Today