Auction House has reported an improved success rate despite fewer lots going under the hammer this year.

The firm, described as the UK’s largest property auctioneer, said it sold 154 lots from 211 last month, raising more than £11.5m – a success rate of 73%.

This was up from a success rate of 71% in November last year.

Its success rate during the year so far is 77.3%.

A spokesman told EYE that the number of lots was down 0.3% annually between January and November to 4,338, which is lower than the 7.9% decline across the sector.

Roger Lake, founding director of Auction House, said: “When you consider the current political uncertainty in the country, it’s nothing short of remarkable that we’ve been able actually to improve our success rate, year on year.

“November is often a quieter month for auctions anyway – and demand certainly dropped back after the election was called. Now it would appear that what is happening in Westminster is affecting auctioneers in the same way as it is estate agents.

“We have to accept that auction entry numbers are down as a result of Brexit and the General Election, and it’s clear that many people have put their property decisions on hold until the New Year.

“Despite that, we still have more than 600 lots entered into our December auctions, and our rooms are busy with bargain hunters, eager to purchase before normality returns next year. So we expect need-driven sellers and optimistic buyers will ensure a high level of sales in our pre-Christmas rush.”