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More investor-owned stock on the market than at any time since 2019

Auction House, the UK’s largest property auctioneer, is witnessing more investor-owned stock going under the hammer than at any time in the last three years.

Auction House Managing Director Jeremy Prior said: “There’s no escaping the fact that some incredibly challenging conditions are out there. As a result, many investors are looking at their portfolios and reviewing the situation. Investors of all types recognise that if they need to adjust their stock, the speediest and most certain way to do so is via auction – which is why they come to us!”

The group’s comments come hot on the heels of the release of its latest figures, which indicate a 10% increase in the number of properties sold compared to this stage in 2021. To the end of November, Auction House has offered 4,409 lots at auction and sold 3,519 (compared to 3,188 last year) – with a success rate of 80% and raising a total of over £550m (£553,004,712).

Jeremy Prior added: “Despite the reduction in investor-owned demand, Auction House seems to be bucking the trend – not only with the 10% rise in sales year on year but also in maintaining our success rate at around the 80% mark. So, while some companies fail to sell even half of the properties they list, we continue to successfully sell four out of every five properties we offer, despite the more challenging market conditions.”

Jeremy Prior says that the Auction House regional framework will allow the group to outperform its rivals despite the gloomy macro environment.

He said: “The crucial difference with Auction House is that we are a national brand – with all the subsequent marketing muscle – but we operate regionally. We have over 40 offices throughout the UK, staffed by experienced and knowledgeable teams, all of whom live and work within their areas of operation and consequently have their fingers on the pulse of their respective local markets.

“Consequently, they can provide realistic, sensible, pragmatic advice to prospective sellers on how they can not only enhance their chances of a sale but also squeeze the maximum value out of their property – an ability other national investor-owned auctioneers simply don’t have.”

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