Posted on 12th May 2017 by Jordan Holmes
Outsourced auction management provider, IAM Sold, raised approximately £28.9m capital value across 259 auction sales throughout the UK in April. An auction in the West Midlands attracted the highest number of lots selling a higher-than-average 80% of the 104 on offer.
Of the total sales, 64% were via online auctions, and 36% were in the auction room. The majority of buyers were owner/occupier with 52% purchasing for occupation, while 32% purchased for buy-to-let, and 16% to renovate and re-sell.
Of the 259 auction sales, 37% were sold above reserve. The highest was East Parade, a property in Whitley Bay, which sold for £114,000 – £50,000 over reserve thanks to 32 viewings and an in-room bidding war.
Jamie Cooke, Managing Director of IAM Sold, comments: “April was another busy month for our auction teams. Activity in the auction space continues to be strong as both sellers and buyers see auctions as an increasingly viable way of transacting property.”
For further information, please contact IAM Sold on 0845 519 3126 or visit the website: www.iamsold.co.uk