Demand for well-priced distressed residential stock helped Mustbesold.com achieve an 86% success rate at its 1 October auction.
The group sold 64 out of 75 properties offered on behalf of lenders.
The sale, at the Connaught Rooms, WC2, raised £5m. Twenty-five properties sold before the event.
Auctioneer Graham Penny said: “The market is very strong. We achieved prices that were, on average, 11% above reserves. “It was our best sale so far this year, even though volumes have been falling in the last three or four auctions.”
Key sales included a three-bedroom, semi-detached house in Birmingham, which made £174,000 off a £120,000 guide. A split-level, two-bedroom flat in Wood Green, N22, made £117,000 off a guide of £75,000, and a two-bedroom flat in Hartlepool, Cleveland, which was guided at £35,000, sold for £72,000.
Mustbesold.com, a joint venture between Graham Penny Auctions and estate agent Spicerhaart, offers only distressed stock.
