Bumper results have kept Allsop Residential ahead of rival Savills in this year’s cash-raising stakes, according to the latest figures from Essential Information Group.
With one auction each remaining this year, Savills has raised a total of £334.3m, with an average success rate of 83%. Allsop has raised a total of £361.8m to date, posting an average success rate of 86%.
Savills came close to pipping Allsop in 2013, falling short by just £14m. However, this year the gap has widened after penultimate sales last week raised £47.5m and £56.5m respectively,
The figures mean both houses have outperformed the wider residential auction industry both on success rates (see graph) and on totals raised. On average, takings have increased by
14.3%.
If Allsop has an average performance in its December sale, it can expect to raise £422.1m by year end, exceeding last year’s total of £336m by £86.1m – a 26% rise.
Similarly, if Savills stays true to form its final figures for the year will raise £382m, compared with £336m last year. This represents an increase of £50m or 15%.
Allsop auctioneer Gary Murphy said: “We are offering a larger number of higher-value lots, which bring more confidence to the auction. Average lot size is up by 23% to £265,500 this year compared with £216,000 last year. It’s nice to see, and it’s about time.”
Savills auctioneer Chris Coleman-Smith added: “It’s been a good year, and the first five months were a feeding frenzy, particularly in London and the South East.”
