After the referendum, there was plenty of concern for the property industry. However, award-winning national property auctioneer – and the leading business of their kind in the country – Auction House, has announced figures for the first quarter of 2017 that precisely match the results achieved over the same time period in 2016. They specialise in auctions all over the country, from a property auction Lake District to auction events in the North East of England, and to match their sales figures even after the result of the EU referendum is an achievement in itself.
When the hammer hit the table in the final auction of the first quarter of 2017, Auction House had sold a total of 701 properties. Coincidentally, this figure is an exact reflection of the sales made at the same time of the previous year at property auctions Lake District and throughout the rest of the country. At the same time last year, the market was surging in advance of the additional 3% Stamp Duty for landlords and second home buyers, which came into effect in April.
It is a real achievement that the company has been able to maintain sales at each property auction Lake District throughout this shift in the country and the industry. An Auction Manager for the company, Claire Blezard, commented on the figures, stating: “Not only is this the identical number sold during a record quarter last year, and at an impressive 77% success rate, but the figures also indicate that auction is the first property sector to re-establish itself back to the sales levels we saw before the EU referendum last year.
“No longer are auctions a 'last resort' route to market. In fact, they are now becoming the 'go-to' place to sell properties for improvement or development, various types of land, anything that's mixed-use, blocks or rows of garages, or any property which is tenanted – both residential and commercial.
“The switch to selling auction lots at sales close to where they are situated is very noticeable, as is the growth in the number of people who are 'buying-to-live', rather than 'buying-to-let' – primarily because such purchasers don't have to factor-in a profit margin.”
This particular property auctions Lake District company now sells one in seven auction properties in the UK and in recent times they have seen an increase in entries of large, impressive properties. This includes a stunning six-bedroom Victorian house in St John's Wood in London which sold for the remarkable price of 3.25 million.
There are different properties all over the country, and a particularly picturesque place to buy a property is Cumbria. You can do this at an upcoming property auction Lake District. The auctions held by the Cumbria branch of Auction House tend to be held in Carlisle – a city that was voted in recent years as the happiest place to live in the country.
All information on the property auctions Lake District carried out both in Cumbria and across the country can be found on the Auction House website. Also, it is advisable to keep an eye on their regional social media pages for information on the wonderful new properties that are going up for auction across the UK. If you're interested in buying (or selling) at a property auction Lake District in the near future, Auction House are most certainly the company to speak to.