Savills raised more than £33.6m from its seventh sale of the year, held on 21 June. The auction saw a 70% success rate from the sale of 101 lots.
The latest sale takes the total raised by Savills via its live-streamed auctions during the first half of 2023 to £260m, from 750 property lots, which is 25% up year-on-year.
Residential highlights in London included a three-bedroom detached house in Sheen (lot 33), which sold for £1,025,000, nearly £400,000 over its £630,000 guide price, and a split-level flat in St John’s Wood (lot 99), which sold for £130,000 over its £1,000,000 guide price.
Elsewhere, a two-bedroom canalside cottage in Croxley Green in Hertfordshire (lot 31, pictured) sold for £386,000, which was £101,000 over its guide price of £275,000, and a newly constructed block of four flats in Chigwell, Essex (lot 23), sold for £1,200,000 against a guide price of £1,050,000.
On the commercial side, a pair of three-storey freehold terraced buildings with development potential on Trinity Road in Tooting Bec (lot 68) sold for £1,550,000, which was £700,000 over the guide price, while a freehold modern office building in Barnsley (lot 55) sold prior to the sale in excess of its £1,900,000 guide price.
Jeremy Lamb, auctions director at Savills, said: “We continue to see appetite for property despite further interest rate rises. [Our latest] auction saw the hammer come down on 101 lots, and many well-priced properties achieved in excess of their guide prices, showing that buyers are still eager to transact and place their confidence in bricks and mortar.”
Savills’ next auction takes place on 18 July, and 150 lots are currently confirmed for inclusion.
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