Savills: Early November sale shows competition is still in the auction room and well-priced stocks are selling well

A robust success rate of 72% was evident despite the increasingly difficult macroeconomic environment. Residential highlights of the London sale included a three-bedroom house in Chiswick (lot 23) which sold for £795,000, a four-bedroom apartment in Chelsea Harbor (lot 80) which sold for £1,890,000 £ soon after the sale and a garden flat in West Hampstead (lot 69) which sold for £598,000 – more than £170,000 above its list price.

Elsewhere in the country, a former outdoor residential education center on 1.92 acres in Wales (lot 39) sold for £375,000 and a three-bedroom house in Hampshire (lot 74) sold for is selling for £293,000, almost £200,000 above its list price of £100,000. .

Investment, development and yield generation highlights included an impressive Georgian investment opportunity in London’s Islington (lot 14) which sold for £464,000, an industrial opportunity in Newmarket (lot 50) which sold for £1,005,000 and a warehouse in Chiswick (lot 110) which sold for £590,000 – more than £110,000 above its list price.

Robin Howson, Auction Manager at Savills says: ‘Our first of two November auctions held yesterday showed that well-priced shares were selling particularly well and in many cases were exceeding the guide price, as evidenced by a semi-detached house in Hampshire which sold nearly three times its target price, the sale saw strong bidding for assets at realistic prices, illustrating the importance of getting the price right to attract bidders.

We have two auctions left this year, the next of which will take place on November 24 and will be followed by the final sale of 2022 on December 14. Our second November sale presents a great opportunity for buyers and sellers looking to transact before the end of the year and we will release the catalog later this week. We are still accepting instructions for upcoming sales and it’s not too late to contact us.”

For more information about Savills Auctions visit www.auctions.savills.co.uk