High demand for land and property lots
Wed 22 Mar 2023
Scarcity of small parcels of grazing land saw lots sell at our Norfolk online auction today for three times the guide prices.
In one of our regular online land and property auctions, five out of six lots sold.
Two separate parcels of land, north and south of Harveys Lane, Seething, South Norfolk attracted enormous interest. The land and track north of Harveys Lane, a 3.72 acre field down to grass and suitable for grazing, guided at £15,000-£20,000 went under the virtual hammer for £66,000 after a total of 54 bids.
The other, south of Harveys Lane, grassland amounting to 3.17 acres and used as pasture, also guided at £15,000-£20,000 sold for £54,000 after 34 bids.
Another star lot was a terraced house in Stafford Street in Norwich's prestigious area of the city known as the 'Golden Triangle' which sold for £192,000 over its guide price of £120,000-£125,000.
A bungalow in Brundall, Norfolk, sold for £268,000 over a guide price of £240,000-£260,000.
The auction scene has been so exciting over the course of the last three years...we are now holding them online every month."
Peter Hornor, Chartered Surveyor and Auctioneer, Norwich.
Peter Hornor, Chartered Surveyor and Auctioneer, based in our Norwich office, said: "The auction scene has been so exciting over the course of the last three years. Whereas we held four-five auctions in-room a year, we are now holding them online every month and they are producing excellent results for our clients.
"Today we saw land making very good money in south Norfolk and a terraced house in Stafford Street sold for more than £65,000 over the guide price. We do have one lot of land in Tilney All Saints which is available.
"There is a scarcity of grazing land and the results show the demand for this along with the continued demand for quality terraced houses in the Golden Triangle."
Our next online auction is next week and the Norwich team is currently preparing for that as well as more next month and in May. Meanwhile our Lincoln office is preparing its next County Property Auction next month too.
If you have property or land for sale, please contact Peter Hornor in our Norwich office on 01603 629871 or James Mulhall in Lincoln on 01522 504318.
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