Family buyers prove there’s a new breed of auction bidders – and they’re paying top prices!

Family-sized homes have exceeded all expectations at Network Auctions’ latest online sale held 9th December. Leading auctioneer, Toby Limbrick, to say, ‘We’re seeing a new breed of buyer in the auction room.’

The sale, which recorded an 84% success rate and raised £6.3 million, saw a huge spike in hammer prices paid for lots which would be suitable for family accommodation. A four-room detached bungalow requiring modernisation in Bell Lane, Hatfield, Hertfordshire sold for £701,500, against a reserve of £450,000. A four-bedroom barn in Chippenham, Wiltshire sold for 62% higher than its reserve of £400,000 for £646,000. Despite requiring full renovation, an end of terrace three-bedroom house in Watford, Hertfordshire sold for £285,000 against a reserve of £195,000.

Toby Limbrick said, ‘Increasingly we are seeing mainstream buyers purchasing at auction. This method of sale offers families a variety of properties to suit their circumstances. Unlike private treaty it offers security of sale and a known move-in date which is key for people who need to plan ahead.’

Network Auctions next online auction sale is 10th February 2022. For more information: www.networkauctions.co.uk