Changes to stamp duty announced in the Autumn Statement helped boost sales of smaller lots in Savills’ latest auction.
Some 101 lots sold out of 125 offered, raising a total of £30.3m at the 8 December sale.
Auctioneer Chris Coleman-Smith said: “Good stock that hasn’t been around the market always generates interest. The changes to stamp duty helped on the lots guided at £250,000-£280,000, on which buyers saved £5,000. There was more momentum than earlier in the year. It was a good sale to end on and encouraging for February.”
The results also showed healthy demand from developers, with highlights including a vacant four-storey mid-terraced house in Stoke Newington, N16, with scope for redevelopment as a single house or flats. It sold on behalf of a private individual for £1.1m off a £900,000 guide.
Another development opportunity, 66 High Street, Berkhamsted, Hertfordshire, beat its guide price of £375,000 to sell at £547,000. Mount View Estates sold the six bedroom house, with potential for an infill extension and loft conversion, to a private developer.
A freehold 0.05-acre site in Hampstead, NW3, was sold to a private developer for £880,000 off a guide of £635,000. The site has permission for a small two-storey house.
The auction was held at the Marriott Hotel, W1.
