Despite local distractions, such as Royal Ascot and this week’s Henley Royal Regatta, Romans Auctions demonstrated again that the summer season is definitely the right time to sell, with a 94 per cent success rate at the latest auction of property and land.
All of the lots, except one, were successfully sold in another packed sales room, with all of the lots that sold going above their guide prices.
“Our catalogue contained a diverse collection of lots ranging from a rare-to-find single garage in Henley-on-Thames, houses for renovation in Maidenhead, Eton, Wokingham and Fleet, to a large area of paddock land with stables in Wokingham and building plots in Windsor,” comments Simon Clayton, auctions director at Romans.
“I’m particularly pleased with the prices we achieved on the larger lots, demonstrating that there are plenty of people in this area with money to invest in prime locations.”
One particular lot that received a lot of media coverage was a plot of land on Rod Eyot in Henley. Only accessible by the boat, the land came with planning permission for a two-bedroom chalet.
Spirited bidding resulted in a selling price of £230,000.
Several houses sold for significantly more than their guide prices, including a semi-detached house in Eton Wick which required structural repair and sold for £306,000, on a guide of £200,000, and a house for conversion close to the centre of Windsor, which successfully sold for £615,000, which was £85,000 more than its guide price.
“We saw little evidence of the marketing slowing down as 94 per cent of the lots sold on the day. We’re just halfway through the year and we have sold nearly 20 per cent more lots compared to the first six months of 2013, and achieved a 29 per cent increase in capital value for our clients,” adds Simon.
At every auction there are great examples of the strength of Romans’ comprehensive marketing approach. This auction was no different with a building plot for a detached house in Windsor, selling for £206,000 from a guide of £180,000, and an attractive detached period house in need of modernisation with a quarter of an acre in Wokingham, selling for £486,000, from a guide of £450,000.
Several houses in Reading sold, including a detached house with a large garden, on behalf of the executor, and a period three-bedroom end-of-terrace house close to the Oracle, on behalf of a private seller. Mr Clayton added: “We are continuing to experience a large demand from cash buyers and investors for all types of properties and land. The auction process is an effective way to generate the most competitive environment in order to secure the best price on the day.”
If you are thinking of selling your property, Romans is now inviting entries for its next auction on July 29. Call the team to see if selling by auction would be the best method for your property on 01344 753120. To find out more about lots available in Romans’ next auction visit: www.romans.co.uk/auctions.