Award-winning national property auctioneer Auction House has announced sales figures for the first quarter of this year which precisely match the record results achieved during the same period in 2016.

By the time the hammer came down in its final March auction of 2017, the group had sold a total of 701 properties – exactly equalling the total sold in the first quarter of last year, when the market was surging in advance of the additional 3% Stamp Duty for landlords and second-home buyers, which came into effect in April.

Commenting on the figures, auctioneer Steve Sprake said: “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.”

Auction House now sells one in every seven auction properties in the UK and Steve Sprake says that the group’s auction rooms have recently seen a surge in entries of large, impressive properties – including a 6-bed Victorian house in St John’s Wood, London which sold for £3.25m, a 9-bed farmhouse in Radlett, Hertfordshire which was guided at £1.5m, and a 9-bed stately home in Hawick, Scotland, which was guided at £495,000.

Steve Sprake added: “More sellers now understand the logic behind marketing with keen guide prices and the benefits of competitive bidding in our auction rooms. For many types of property the hammer prices achieved at auction now regularly match and exceed those delivered through estate agents. The real advantages of speed, certainty and a transparent process have made auctions a genuine, mainstream alternative.STEVE SPRAKE (3)

Lot 16 - Jacaranda, Lime Walk, Dibden Purlie Catalogue Page

Pearsons second Auction of the year took place on the 29th March in the media suite, Hilton Hotel at the Ageas Bowl, West End, Southampton.

Once again the room was bustling with potential bidders and several of the lots generated a huge amount of interest.  Without a doubt the star of the show was ‘Jacaranda’ in Dibden Purlieu.  This attractive detached bungalow with scope to extend and requiring considerable updating seemed to excite all who viewed, so anticipation on the day was high.

With a realistic guide price of £250,000 the bidding got underway and although it started quite cautiously, the show of hands from all corners of the room reflected the serious intent.  The hammer finally went down at £399,000, having achieved £149,000 above the guide price.  Auctioneer Steve Sprake was very pleased with the outcome, but not nearly as much as his clients when he rang them later in the day with the good news.

Congratulations to Lee TuToby Wheatley Shield presentation Annual Awards 2017rner on receiving the Toby Wheatley Shield at the recent Pearsons Annual Awards evening in recognition of the most referrals to the Pearsons Auction Department.  Pictured with Lee Turner are Auctioneer Steve Sprake (L) and Managing Director Mark Gilbert (R).