If you’ve followed us online anytime during the past year, you’ll know that 2016 has been a great time to buy and sell at auction. The Austin Gray property auctions team, headed up by Auction Manager, Nick Muston FRICS, has held a record number of lots since January – and the year isn’t over yet!
Despite an unusual year, our reputation for achieving consistently high sales rates has been maintained. In what has been a challenging time for several sectors of the property market, most notably buy-to-let, the property auctions sector has enjoyed continuous growth throughout the year, providing much-needed stability in the markets for first-time buyers, those looking to move on and investors.
The benefits of property auctions are felt across the property investment spectrum, from high-value residential lots, to commercial land lots. The process is transparent, quick and straightforward, great for those wanting to exchange contracts within a highly-competitive market.
As we discuss on the Rightmove blog, funding options from lenders have also broadened. Mortgage offers are now being issued in as little as two weeks from application, while selected lenders are waiving fees altogether to expand the customer base to more first-time buyers.
Properties of all shapes and sizes, old and new are suitable for auction. The misconception that only poor-quality properties and sites are put up for auction is quickly becoming redundant as both residential and commercial property auctions grow in popularity across the UK.
Austin Gray is one of the largest property auctioneers in the South East of England covering Sussex, Surrey, Kent and Hampshire. This year has marked the start of our proud collaboration with Auction House, the UK’s number one property auction brand. Since our relaunch as Auction House Sussex this January, our auction division has gone from strength to strength, helping hundreds of people on the property ladder in the process.
Our next auction will be held on 20th October 2016 at Clarendon Villas Church, Hove. Click here to view our current lots.