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REVIEW OF THE MARKET AND A BRIEF LOOK AT WHERE AUCTION LOTS COME FROM

As I write this article, we are busy preparing for our summer sale with about 3 – 4 week before close the books for the sale which takes place on 20th June.


We already have plenty of interesting lots in the city and county for inclusion which is exciting and as always we are spending a lot of time on the road looking at opportunities and providing informal advice to vendors looking to know more about how auctions can help them release value and achieve a result within a given timeframe.

 

The market appears buoyant in our region despite some of the things going on in the world at present!  At the risk of repeating myself, we tend to think here that that is because Norwich is such a super city and Norfolk a special place and the fact that we lag behind other areas of the country in terms of value and perception is very relevant as well.  The scarcity factor is important as well and there is still a high demand for property throughout the price ranges, which can only be a good thing.  Recent auctions have shown that there is a demand for property throughout the price ranges and we see no reason why this should not continue, although as always realism is the key and advisers need to bear this in mind.

 

As always, we continue to look at our service and how we can improve it.  The whole process needs to be slick and to include good presentation with website representation, accompanied viewings, catalogue, etc.

 

We have recently revamped our catalogue which we are very pleased with.  The auction process is very transparent and provides an immediate result at the fall of the hammer, which suits many people.

 

Auctions cannot and will not suit all property but the beauty of a firm like ours is that we are able to provide the right advice and to steer people in the right direction.  For example, if a period cottage, townhouse, terraced house or investment property needs to be sold and suits the auction approach we will go down that route, but if the private treaty or informal approach would be preferable we will do what is right to benefit the client and ensure success.

 

Martin Cunningham who runs our online offering is able to offer this new approach to vendors and is busy explaining how he can help clients unlock value as well.

 

As we develop our firm, with offices throughout East Anglia and the East Midlands, we are confident that we provide the geographical spread to be able to cover the region and expand this area of our operation.

 

Looking at the result over the last few years we see that we have sold a broad cross section of property including houses and cottages in need of renovation, whether they are in the city or county, amenity land, building land and garages as well as commercial and residential investments.

 

The auction process works well for houses that need renovation or improvement but equally more and more people are looking at the opportunity to achieve a result within a given timeframe.  We will continue to inspect property throughout the price ranges in the coming week in the hope that we will have an interesting variety of lots for our sale at the end of June.

 

Meanwhile, we look forward to whetting your appetite with examples of some of the lots in our next auction article in two weeks, just prior to the launch.

 

For those people interested in knowing more about the auction process, please contact us.  We are happy to inspect property without obligation and to provide advice in the coming weeks.