Savills raised more than £100m in November, making it the largest month ever for the auctioneer and a 70% increase on last year.
Its second November sale raised nearly £60m – the highest total raised by Savills at a single auction this year. It achieved a 75% success rate from the sale of 150 properties.
The total for the year now stands at more than £533m, more than 25% up on the same period in 2022.
On the commercial side, a freehold investment property in Harrow, lot 34 (main picture), sold significantly above its £2.5m guide price. A development opportunity with planning permission for 24 flats in Surbiton, lot 63, also sold for significantly more than its guide price. Other highlights included a five-floor office building in London’s King’s Cross, WC1 (lot 80), which sold above guide for £1.27m, a mixed-use investment in Kensal Rise, lot 68, which sold above guide for £1.45m, and a shop and office space in Islington, lot 65, sold for £1m. A high-street retail investment property in Rayleigh, Essex, sold prior to the sale.
Other highlights included Aldous Boathouse in Teddington, lot 142, which sold above guide for £537,000 and a five-bedroom house in Islington, lot 109, which sold above guide for £1.12m. A two-bedroom flat in Belsize Park, lot 15a, sold for £250,000 over its £1m guide price, while a first-floor flat (Lot 9) in Chiswick, lot 9, sold above guide for £470,000.
Savills Auctions director Jeremy Lamb said: “Yesterday’s penultimate sale of the year saw strong competitive bidding across all prices, sectors and locations. In particular, there was strong interest in yield-producing commercial assets, as well as houses in London, resulting in 14 properties selling for over £1m.
“The buoyant results across the last few auctions have been driven by increased bidder confidence resulting from the falling cost of debt.”
Savills’s final sale of the year takes place on 13 December.
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