While the owner-occupier market for houses in London could be slowing down in the run-up to Christmas, flats in the lower-to mid-range bracket went well at Barnard Marcus’s £10.1m sale in London last week.
Auctioneer Kiernan Worrall said that the majority of the lots in the £250,000-£400,000 bracket that failed to sell were those aimed at owner-occupiers rather than developers.
“This part of the market is likely to be a bit less active towards the end of the year,” he said. “But the £250,000 and under bracket is still very active.”
A flat in Falcon Lodge, Admiral Walk, Maida Vale, W9 which had been up for private treaty sale at £129,000, was guided at £120,000, received a best bid prior of £125,000, but sold for £140,500. A flat in Astbury Road, Peckham, SE15 which had been on the market for £44,950, and had an offer of £51,000 prior to auction, was knocked down for £60,000.
