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National Auction News

Click to view: 2016 Annual Review

Total Sales Year to Date £84 million, up 23% on last year

April 2016

Our sale on 12th April was our third of the year with the combined results of our auctions this year demonstrating that buyer appetite for a well located property remain strong. A brief look at our results over the rst three auctions of this year compared to last year show:
Instructions up 18% to 591 lots offered
Sales volume up 65 lots to 450 lots sold
Capital value of sales up 23% to £84 million

The sale held on 12th April was our rst sale since the change in Stamp Duty rates introduced on 1st April. Speaking after the auction, Divisional Managing Director Chris Glenn said: "Whilst we did detect a degree of caution from some buyers, it remain clear that quality well located lots were snapped up through competitive bidding and buyers recognising that any additional costs that they now face with their purchase would quickly be dissolved by continuing house price rises driven by demand".

Examples of this include lot 6, 17 Woodlands Gate, Putney, an unmodernised second oor at offered by Mountview Estates Plc. Guided at £320,000, the at eventually sold for £375,000, only £3,000 less than the best sale price achieved in this block for a fully modernised at (data from Land Registry).

One of the star lots of the day was lot 1 offered on behalf of London Borough of Wandsworth which sold immediately after the auction for £1,350,000 from a guide price of £1,200,000. Further examples include lot 9, 59 Athelstone Road, Harrow, an unmodernised mid terrace house offered at a guide price of £295,000 and eventually selling for £382,000.
The auction included two lots offered on behalf of The Royal Borough of Kingston upon Thames. Lot 72 was a block of nine garages in New Malden and was guided at £130,000 and ultimately sold for a staggering £387,500, equivalent to over 43,000 per garage. The Royal Borough of Kingston upon Thames also offered lot 73, three garages at Barn eld Gardens in Kingston upon Thames which sold for £127,000, nearly a £100,000 over its £30,000 guide price.

Chris Glenn further commented after the sale "Whilst it is inevitable that some buyers having to pay the additional 3% stamp duty premium will consider this when they are bidding, it remains that sellers offering well located property for investment, development or owner/occupation with realistic prices will attract multiple bidders and can expect through competitive bidding to achieve very strong sale prices as one shouldn't forget, not all bidders in the auction room are buying second homes and not all bidders will be faced with the additional 3% SDLT levy. 

The next Barnard Marcus auction sale will be held on 17th May and instructions for this sale will close on 25th April with the catalogue published on Friday 29th April.

Forthcoming Auctions for 2016

17th May at The Grand Connaught Rooms
21st June at The Grand Connaught Rooms

To include your property in one of our forthcoming auctions or for a free no obligation discussion, call our auction team on 020 8741 9990

Date of next auction
17th May 2016
Deadline for entries
Friday 22nd April 2016

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Lot 4
Lot 9
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Lot 4
 
Lot 9
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Freehold house in Stratford for updating Guide £335,000
 
Freehold house in Harrow for updating Guide £295,000
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Lot 20
 
Lot 44
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Lot 20   Lot 44
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Freehold investment building in East Sheen Guide £595,000
 
Freehold vacant semi-detached cottage in Hayes Guide £180,000
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Lot 72
 
Lot 79
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Lot 72
 
Lot 79
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Freehold block of garages in New Malden Guide £130,000
 
Vacant freehold semi in Croydon
Guide £250,000
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Lot 86   Lot 131
Lot 86   Lot 131
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Freehold former nursing home in Cheshire Guide £275,000
 

Freehold detached house in West Yorks Guide £69,000

Negotiator Auction Award


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Previous News

News Date
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Title
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View ( Pdf)
 
April 2016
 
Total Sales Year to Date £84 million, up 23% on last year 
 
PDF Link
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March 2016
 

Bidder appetite remains strong

 
PDF Link
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February 2016 
 
Best February Auction since 2010 
 
PDF Link
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December 2015
 
Christmas shoppers push prices through the roof! 
 
PDF Link
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November 2015
 
Many sellers achieve a 100% success rate 
 
PDF Link
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October 2015
 
Single lot selling at £3.2m contributes to record sale for the year 
 
PDF Link
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September 2015
 
Sales top £200m! 
 
PDF Link
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July 2015 
 
Confident market sees another £26m raised 
 
PDF Link
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June 2015
 
Mid Summer Heat in the Auction Room 
 
PDF Link
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May 2015
 
Sales Top £120m 
 
PDF Link
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April 2015
 
Sales approach £65m 
 
PDF Link
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March 2015
 
Sale proceeds already top £21m
 
PDF Link
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February 2015
 
NHS In Good Health! 
 
PDF Link
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Barnard Marcus Auctions, Sovereign House, 361 King Street, London, W6 9NA
Tel: 020 8741 9990 or 020 8741 9001 | FAX: 020 8741 2188 or 020 8741 2168 | Email: auctions.hammersmith@sequencehome.co.uk