We’re delighted to announce that in just two months, we sold three prominent property lots in Bath, achieving a total of £1.02 million in sales, which was 22% above the initial total guide price (£840,000).
One of these properties, a two-bedroom Victorian terrace house on Coronation Avenue, generated significant interest receiving 95 bids. The home had a guide price of £195,000 and sold for £296,500 – over 52% above the guide price.
A two-bedroom maisonette in Rosewell Court was sold for £155,000. The property had no EWS1 (External Wall Fire Review) form which made it difficult to sell through traditional marketing and the third lot was a three-bedroom Georgian townhouse, which sold prior to auction for an undisclosed amount.
Our Co-Founder and Director, Stuart Collar-Brown, is a former Bath property specialist and resident, having spent six years at local estate agencies, Crisp Cowley & Pullin Knight and four years at Strakers Auctions. To support these sales and generate as much interest as possible for our clients, we partnered with local expert, Alex Bowater of Strattons & Partners.
With completion typically 28 days after the auction has taken place, there has been a sharp rise in property owners choosing to sell via auction rather than traditional private treaty sales. This significantly shorter time frame, coupled with recent data from EIG Property Auctions reporting a 15% increase in the amount raised from property auctions compared to this time last year, is making selling via online auction houses such as My Auction an attractive option to sellers.
We are really pleased with the recent property auction success we have had in Bath for our clients – each seller had their own story to tell and unique reasons for taking the auction route.
With property prices in the area continuing to rise, we’re seeing more buyers and sellers looking at auctions as a viable route to sale than ever before. Buyers and sellers are looking for transparency, speed and security and going through the auction route provides all of that and more with completion normally around 28 days.
We look forward to continuing our work across Bath, discovering new properties, and helping local clients throughout 2022.