Network Auctions Smashes into Spring Property Market with Hot Bidding Wars

Network Auctions Smashes into Spring Property Market with Hot Bidding Wars

Network Auctions latest Spring auction (27th May) has confirmed the property market is hot, hot, hot with multiple lots attracting hundreds of bids!

Toby Limbrick, auctioneer, said, ‘Our latest results continue to show how mega the property market is right now. There is huge appetite for buying property and online is proving extremely popular with bidders.’

‘We had 145 bids for a former funeral parlour in Devon, which saw the opening bid of £225,000 soar to £325,000. Who knows what it will be going forwards!’

A mid-terraced property in Aylesbury, with the potential for two flats, also attracted 103 bids and saw the guide price of £130,000 hit a hammer price of £212,000.

But the most stellar result was reserved for a lot of freehold land, equivalent to 1.05 acres, and comprising the highway, paths, verges and parcels of land in Catford, London. Situated in Chilthorne Close, Ravensbourne Park Crescent and Ravensbourne Park, the initial guide price of £5,000 attracted 116 bids, boosting the price a whopping 4500% to £230,000.

Toby Limbrick said, ‘We are delighted to see the results we have produced for our clients.’

Network Auctions 27th May sale recorded a 78% sales result raising a total of £5.16 million.

Network Auctions next online collective auction will be held on 8th July 2021. For more information: www.networkauctions.co.uk