PATTINSON AUCTION CELEBRATES SUCCESS AS THE HAMMER FALLS ON 2019
Pattinson Auction are starting the new decade on a strong footing with 2019 providing one of their most successful years to date.
As well as a 42% increase in capital value of properties, Pattinson Auction also saw an increase of 53% of units sold, compared to 2018. Last year also saw Pattinson Auction’s partnership with agents exceed expectations. Not only was there a 38% increase in the Partner Agents they were working with but there was also a substantial increase in the percentage of properties Partner Agents were referring for auction.
Although buyers are still attending live auctions there was a significant rise in popularity in online auctions during 2019. Offering flexibility, online auctions ensure buyers can still secure a property bargain even if they are unable to attend the live auction.
Compared to previous years, the portfolio of properties being sold via auction in 2019 was one of the most diverse. From investment properties to ready to move in family homes and everything in between. Sale highlights included an investment property in Newcastle which secured over 100 viewings prior to auction and sold for an outstanding two and a half times over the starting bid. A 1-bedroom detached house in Surrey which sold for a fantastic £62,000 above the starting bid and a detached investment property in Durham which had a starting bid of £1 and ended up selling for an outstanding £101,000.
Auction Director, Justin Beckwith, said “I am thrilled with the growth we have seen within 2019 and I’m feeling very optimistic about 2020. Last year we certainly saw an increase in vendors and buyers turning to auction as a first attempt rather than a last resort due to the benefits it offers such as speed, transparency and security.”
Pattinson Auction have been operating for over 25 years. Since their first auction in 1992 they have exchanged over 36,000 properties resulting in £3.8 billion of total property value exchanged. As well as UK wide online auctions they also hold regular live auctions across the UK.