A strong appetite for high-value residential property in
Selling prices averaged £175,000, compared with £141,000 12 months ago.
Totals raised at the Grand Connaught Rooms, WC2, event, held on 15 November, closed at £14.2m after 81 of the 125-lot catalogue sold, including 23 lots prior. This reflected a success rate of 65%.
Auctioneer Chris Glenn said: “The price tone in the room did not reflect any concerns about the economy. We knew we had a strong catalogue.”
He added: “There has been some cooling in the private treaty sector and people are seeing that the rental market is very strong.
“There is a definite tide of ‘buying to rent’ at a much greater level now than there has been for some time as people take advantage of low interest rates.”
Notable sales included Thele House, a former hostel in Ware, Hertfordshire, which was offered without planning permission but with potential for redevelopment. It raised £550,000 for
A plot of 20 acres of Woodland at Hopedene Farm Wood in Dorking, Surrey, made £52,000 off its guide price of £40,000, while a freehold, two-storey building, with 0.16 acres of land, which failed to sell in Barnard Marcus’ auction last month, achieved £465,000 off a guide price of £400,000.
estelle.maxwell@estatesgazette.com
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