February Auction Market Update

Richard Webb – National Sales Manager

January has without a doubt, been a high performing month, and even many property commentators have been reporting that the market is back with a boom! We too can share that sentiment, having witnessed yet another record-breaking month, with more listings, more sales and more agents engaging.

Having recently attended the inaugural Propertymark event of 2024 in Chelmsford, it is evident that the appetite for agents to understand how their businesses can fully utilise the auction sales route, is certainly growing. The market share associated with auction sales amongst recent sold data indicates the increase of this sector. In turn, this shows that more sellers are understanding that speed and certainty are paramount in any property sale, and auction is often the perfect solution for their requirements.

Next month we are excited to be sponsoring and attending the Women In Estate Agency event in central London. We are proud that women make up two thirds of our business, including our Managing Director, and we truly recognise the positive impact women have within the property industry. The WIEA conference/event helps showcase this very aspect, perfectly. It would be wonderful to see you also, if you are attending, please do come and say "hello" to us on Stand number 7.

Finally, we hope you engage with our Q1 incentive for your chance to win one of five city breaks, worth up to £1,000 each. If you require further information, please reach out to your Business Development Manager.

Paula Ferragamo - Business Development Manager Kent

This year has brought all round optimism, not only with agents, but there is a distinct increase in buyers registering and offering on stock. We are continuing to see new properties selling fast, whilst some of the older stock is gaining new activity through auction. And from a buyers’ perspective, there seems to be a fear of loss, and when several buyers are wanting the same property, we are seeing multiple bids being made, and a higher price is gained for our sellers! Fantastic results!

Myself and my clients, recently had a success on a property at the coast. It had been on the market for over 2 years with various agents, and when the sellers utilised our auction facility, we were able to get a bid accepted that met the vendor’s expectations, exchange contracts and complete with certainty!

Paul Waters - Valuation Team Manager

Heading into 2024, we are seeing some fantastic numbers in the property market with a near 10% increase in sales, and a notable growth in property instructions coming to market.

Although house prices are falling, the pace of this decrease has slowed compared to that of 2023, but even taking this into consideration, there are still vast areas of the UK where properties are selling under market value. Auction can be a vital addition to any Partner Agents tool kit in trying to ensure sales are achieved in the most secure and speediest fashion.

We now have an area-specific valuations team based at our Head Office, who are on hand to supply essential information to sellers! I look forward to working with both our long serving Partner Agents, whilst also welcoming new Partner Agents onboard and showing those branches just what one of the fastest growing auction houses can offer!