Written by Caroline Culot.
With the next Auction House sale coming up next Thursday, May 31, chartered surveyor and auction manager Robert Hurst, pictured right, comments on the market and what to expect.
“In April there were 139 auctions across the country raising £180 million and giving a national success rate of 69pc.
“Residential sales accounted for more than two thirds of this according to the latest figures from the Essential Information Group.
“The number of residential lots sold by auction has increased 16pc compared to this time last year.
“This is partly due to the increased number of private individuals choosing to sell by auction after having languished on the private treaty market for some time.
“In the commercial sector the continuing squeeze on lending depressed activity further in April and the number of commercial lots sold fell by 4pc.
“The downturn in commercial sales is also a reflection of the fall in volumes of prime stock. Looking ahead it is anticipated the number of secondary and tertiary lots will rise.
“At 11am next Thursday, May 31, Auction HouseEast Angliahave 29 lots due to go to under the hammer at Dunston Hall Hotel inNorwich.
“We have lots throughout the region and a mix of land and property including commercial and residential investments, amenity land, single and multiple building plots, properties requiring improvement works and a number of redevelopment opportunities. Here is a flavour:
A development site in Wymondham with planning permission for 6 properties guided at £170,000.
A large detached three bedroom bungalow in a large plot guided at £120,000.
A three bedroom coach house in Foulsham which has been completely refurbished to a high standard whilst retaining a wealth of original features, pictured below right.
It is ideal for owner occupation or holiday let investor.
A recently renovated two bedroom end terrace house in Dereham, pictured above right, ready to move in and benefits from an off road parking space. It is located close to town centre and is ideal for a buy to let investor or owner occupier.
You can contact Auction House on 01603 505100.