4th May 2021
High buyer demand results in another successful month for SDL Property Auctions
SDL Property Auctions’ sellers have been reaping the benefits of high demand as many buyers rush to beat the next stamp duty holiday deadline.
As Zoopla reports demand hitting new highs, SDL Property Auctions has enjoyed another successful month, culminating in a bumper all-day National Property Auction which drew almost 2,000 registered bidders and raised more than £20 million for sellers in one day.
Partly fuelling the high level of demand is the rush to complete purchases before the stamp duty holiday for properties priced £250,000-£500,000 comes to an end on 30th June – and auction buyers know they can achieve this comfortably. Unless specified in the legal pack, auction transactions complete in 20 working days, which means April’s buyers will receive their keys before the end of May.
Outstanding results have been achieved throughout the month for sellers nationwide in live-streamed Auction Events, Timed Auctions and Buy It Now sales.
One hotly-anticipated lot in April’s National Property Auction was 15 Ilkeston Road in Sandiacre, which had the highest number of registered bidders of any lot on the day. Requiring full renovation, but packed with potential and backing onto the Erewash Canal, the Nottinghamshire semi did not disappoint, selling for £121,500 from a *guide price of £64,000+.
An unofficial accolade went to the eventual buyer of The Swan Inn, Town End in Cheadle, a former pub which sold for £169,000 from a guide price of £115,000+. The Staffordshire property has five bedrooms, multiple reception rooms, a range of outbuildings and huge development potential, subject to planning permission, being just six miles from the Alton Towers Resort. Auctioneer Rory Daly was impressed by what he described as “the quickest bidder of the day”.
Rory was sharing rostrum duties with managing director and auctioneer Andrew Parker, who was delighted the day had been another resounding success.
Andrew said: “Bidding was enthusiastic and exciting, resulting in wonderful outcomes for sellers across the length and breadth of the country. Time and again we prove that people want the speed and certainty of auctions, and that they don’t need to compromise on price.”
The National Property Auction proved a fitting finale to a busy month, which saw some outstanding results achieved for sellers in Timed Auctions, too.
Perhaps the most exclusive home sold by SDL Property Auctions in April was 60 Stradbroke Drive in Chigwell, which came to the market for the first time in more than 65 years and was offered for sale in a conditional Timed Auction in partnership with Bairstow Eves.
The spacious Essex property tucked away on a large corner plot in one of Chigwell’s most sought-after addresses had a guide price of £1,650,000 and sold for £1,745,000 after receiving 35 bids when the seller chose to end the auction ahead of its scheduled closing date.
Several lots attracted 100+ bids, including 2 Sirdar Road in Portswood, Southampton, which was sold in an unconditional Timed Auction in partnership with Morris Dibben. The three bedroomed detached bungalow, which is in need of modernisation, received 108 bids and sold for £226,500 from a guide price of £175,000+.
Similarly, 19 Marshall Lake Road in Shirley, Solihull, a spacious detached property with two reception rooms and three bedrooms, drew 106 bids when it was sold in a conditional Timed Auction in partnership with Smart Homes Shirley for £262,000 from a guide price of £205,000+.
Andrew added: “Our Timed Auctions have become extremely popular over the past year, not just with buyers and sellers but with estate agents, too, as they allow them to get fast results for their clients with almost zero risk of the sale falling through. It’s an increasingly popular way to sell private homes, as a growing number of sellers appreciate the benefits of speed and certainty.”
Sellers with a property in the £250,000-£500,000 price bracket still have time to beat the stamp duty holiday deadline by selling with SDL Property Auctions in a Timed Auction, a Buy It Now sale or the National Property Auction on Thursday 27th May. Property sold in the May Auction Event will normally complete on 25th June, several days before the return of normal stamp duty charges for this category.
To find out more about selling a property with SDL Property Auctions, please visit www.sdlauctions.co.uk or call the friendly team on 0800 046 5454 to request a free, no-obligation auction valuation.