Press Release: Christies Network Auctions two day September sale success

As a leading UK auction house Christies Network Auctions enjoyed considerable success with our two day September sale which took place in London and Birmingham.

With lots covering the length and breadth of the UK a success rate of 83% was achieved on both days with a total of £6.7 million being raised from the sales.

Highlights of the sale were a house requiring modernization with a guide price of £179,000. The property had attracted an offer of £255,000 prior to auction but, acting on the auctioneer’s advice, the seller took the property to the room where a figure of £270,000 was achieved when the gavel fell.

A similar, but even more impressive sale, took place at the Birmingham day when a lot in Selly Oak which was guide priced at between £95,000 and £100,000 sold at £280,000. Again, there had been an offer prior to the auction at £180,000 but, acting on the auctioneer’s advice a much superior result was achieved by taking the property to the room.

Jeremy Richardson of Christies Network Auctions said: “These sales demonstrate the advantage that auction can have over a normal private treaty sale and the huge added value an auctioneer can provide in advising on maximizing value.

Our traditional auction offering is now complemented by Network-E, our online auction offering which is ideal for sellers who would not normally consider selling by auction but who would benefit from the greater certainty created within a less tight time frame. 

Anyone thinking of selling is invited to discuss with us all the options for disposal in order to maximize the opportunity for a sale and the value obtained.”

Christies Network Auctions are now looking to accept lots for inclusion in their remaining sales of the year in October and December. Both of these sales will also be two day events with days in London and Birmingham. These will be the last opportunities to sell by auction in 2015 and potential sellers are advised to contact Christies Network Auctions without delay to ensure that properties can be included.

sales@christiesworld.com

020 8643 7777

www.christiesworld.com

Back to School

Nick Churton of our London Mayfair Global Network suggests it’s not just our children who might be learning some timely lessons this autumn.

Mortgage lending at its highest in seven years’, ‘House prices jump 4.3% in the three months to July - the highest quarterly growth for 11 years’, ‘Rents across England and Wales rose faster in July than in any month since records began in 2009’. All these recent headlines point to a property market that is flying. Or is it?

Have we finally shrugged off the dark days of 2008? Perhaps we haven’t, for other headlines suggest a property crisis. There are far too few houses being built for the increasing demand. There is a crying need for more social housing. The rental sector will continue to grow because it is too difficult for first time buyers to get onto the property ladder - and all this on next-to-zero interest rates. What happens when they start to rise which could be next year? Also those startling headlines are across the board. They don’t show that some regions are still suffering and that London is not so buoyant as it was.

So what does this mean for the autumn market – the after-the-holidays, back-to-school property market? It means that, as ever, pricing is key. Sellers should not get too carried away by the headlines. Just because one area is doing well does not mean all are. And when there is extraordinary pressure on prices brought on by lack of stock it often means there could be a dip in values when there is a surfeit of stock later.

Our advice, whether buying or selling this coming autumn, is not to get too carried away. Stick to the tried and tested methods of sale and purchase. Sellers: ensure that your property is looking at its best, make sure that you have an agent acting for you with a superb track record in marketing and doing great deals in the local area, and above all price to sell. Buyers: look for the best conveyancing solicitors – they will save you time; check that you have all your funds arranged in principle and remember those potential interest rate rises will affect your repayments in years to come. Buyers and sellers: be flexible, be reasonable, be helpful and remember that this is not just about buying or selling a property; it is about moving on and starting a new life. Above all else, including money and principle, that is the most important thing.

www.christiesworld.com