Quest for certainty results in surge in property auction sales

A surge in interest in auction sales is being reported by SDL Auctions, who say that property owners are swapping the unpredictability of the open market for the certainty of selling under the hammer.

Its September sale catalogue features 238 lots, which is 53% more than the auctioneer offered in September 2019.

Managing director and auctioneer Andrew Parker puts the increase down to a number of factors.

He said: “Many sellers tell us they have chosen auction because it provides certainty, something which is valued ever higher in these uncertain times. They are not prepared to take their chances on the open market when the economic situation can change so rapidly due to the pandemic.

So far this year SDL says it has sold more lots in live-streamed auctions than any other UK auctioneer; selling more than 1,000 lots and achieving £100 million for sellers.

Last month SDL Auctions became the first auctioneer since 2008 to offer a 200+ lot catalogue in August, traditionally a quiet month for the property market.

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