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Expanding Opportunities for Buyers in the Auction Market

Expanding Opportunities for Buyers in the Auction Market – A world of Auction opinion 

The data provided by Essential Information Group (EIG) paints a promising picture for buyers in the expanding auction market.

The robust growth in both residential and commercial property auctions, as evidenced by the 37.2% increase in lots sold and a staggering 160.3% surge in total revenue in the commercial sector, indicates a thriving and dynamic market.

This growth is not confined to a single area but is seen across major regions, including London, East Anglia, and the East Midlands.

The increasing number of lots offered, up by 11.2%, suggests a wider range of choices for potential buyers. Furthermore, the rise in residential activity even in regions where the total raised has decreased, such as Scotland, implies that more properties are becoming available at potentially lower prices.

This expanding market, therefore, presents a great opportunity for buyers to invest in properties that suit their preferences and budget.

The Auction Market: A Growing Platform for Vendors

On the other hand, the data also reveals an encouraging trend for vendors considering the auction route.

The fact that more lots are being offered and sold at auctions, with an increase of 11.2% and 22.1% respectively, signifies that more sellers are leveraging this platform to reach potential buyers.

The impressive growth numbers, especially in major London sales, demonstrate the high demand in the auction market, which vendors can capitalize on.

The rise in total revenue, up by 19.3% in London’s residential sector in the second quarter of 2024, further underscores the lucrative opportunities available for sellers.

Moreover, the increasing activity in regional markets like East Anglia and the East Midlands indicates that auctions are not just for big-city properties but can be a successful selling strategy for a wide range of locations and property types.

In conclusion, the auction market, as depicted by EIG’s data, offers an excellent platform for vendors to achieve optimal sales outcomes in a competitive and expanding market.

Do you What to drill down into the detail:

From Essential Auction News, discussing the property auction market in June 2024.

Here are the key take away points in numbers:

  1. Robust Growth in Auctions: Both residential and commercial property auctions have seen robust growth. The commercial sector, in particular, saw a significant increase in lots sold (37.2%) and total revenue (160.3%), largely due to an additional Allsop Commercial auction.
  2.  

Allsop commercial Auction results June 2024 – The market changer ! 

  1. Residential Auctions: Residential auctions also grew, with lots offered and sold rising by 11.2% and 22.1% respectively. Major activity in London sales contributed to this increase, with residential lots sold increasing by 10.8% and total revenue up by 19.3% in Q2 2024.
  1. Regional Performance: Regional players in East Anglia and the East Midlands also performed well. However, Scotland saw a decrease in total raised by 30.8% despite an increase in residential activity.
  1. Overall Statistics for June 2024: Total Lots Offered – 3,009, Total Lots Sold – 2,126, Percent Sold – 70.7%, Total Realised – £427,750,600.