Savills raised more than £38m at its second live-streamed auction of 2021, which took place on 2 March, achieving a success rate of 78%. This brings the total raised so far in 2021 to £76m.
The extra sale was originally planned to help buyers meet the stamp duty holiday deadline of 31 March, but this was extended in the chancellor’s Budget announcement to 30 June 2021.
In response to the latest extension, Savills’ next auctions will be held on 14 April and 2 June, to allow buyers enough time to complete before the new deadline.
Christopher Coleman-Smith, head of Savills Auctions, said: “We saw really strong results in our March sale. Our catalogue was large and varied, holding appeal for a range of buyers, from owner-occupiers and self-builders through to investors who are regulars at auction.
“There was a true mixture of property types and prices in this month’s auction. A farmhouse in Salcombe, Devon (pictured), achieved £1.7m on the day, while another two lots sold for more than £1m. Family homes in need of renovation performed well, selling to owner-occupiers looking to put their own stamp on a project.”
He added: “Lots that offered land with the option to obtain planning permission proved attractive to self-builders and sold well. We also saw competitive bidding for mixed-use properties, with an investment opportunity on Clarendon Road, Notting Hill, going under the hammer at £1.19m.”
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