Romans’ May auctions raise £4.7m from the sale of 16 lots

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12 Jun 2019

Romans’ May auctions raise over £4.7m from the sale of 16 lots

Author: Grace Watson

Romans’ online and room auctions secured an 83% success rate throughout the month of May, confirming a healthy sales market and an increased demand for quick, secure property purchases.

For those yearning to achieve a fair price on their property in today’s tough ‘mid-Brexit’ market, considering offering your property for sale by auction could be the way forward, suggests Romans’ chief Auctioneer, Simon Clayton. “If executed correctly, the auction process creates a very competitive environment in which to sell. Buyers at our recent room auction in May had to fight hard to win the best properties, confirming that there is definitely a strong market out there for correctly priced property, whilst we’re submitting more and more properties for sale online, via our new online auction function.”

Now offering both timed online auctions and traditional room auctions, May proved a busy month for Romans’ auctions team. Lots offered for sale in May included modern family homes and ideal renovation projects, plus maisonettes and apartments ideal for first-time buyers and investors alike. Contrary to the common perception of auction sales being reserved for tired and dated properties, savvy buy-to-let investors walked away with additions to their portfolios offering potential rental yields of over 8%. However, one of the most fiercely competitive bids of the month ensued for a modern 6 bedroom family home with adjacent 2-bed outbuilding in Reading, which sold for £688,000, an impressive 25% more than its £550,000 guide price.

Simon Clayton reminds us that most properties are suitable for sale by auction, so it could be ideal if you:

 

  • Need to sell your property quickly
  • Need to settle an estate and require speed and transparency
  • Want the security of a certain sales
  • Want assurance that you’ll achieve the best price
  • Would like to choose your own auction date
  • Have a property that is vacant, or requires modernisation or development

 

What’s more, selling your property via auction has just become easier – Romans also offers several timed online auctions, meaning you can choose your own auction date and secure a sale at a time that suits you!

Romans’ next room auction will be held at Green Park Conference Centre in Reading on 24th July at 1:30pm. If you’re interested in submitting your property for Romans’ next room auction, or simply want to find out more about the valuation and auction sale process, contact the experienced auctions team on 033 0057 1736, or visit www.romans.co.uk/auctions.

Can’t wait until the end of July? Choose your own auction date!

Romans also offer a new, innovative and pioneering platform for selling property via an online auction. It provides all the benefits of a traditional auction, whilst also providing sellers with convenience, seller security, longer bidding periods and an increased marketing period. Find out more about selling your property via Romans’ online property auction by arranging a free valuation, or by calling the auctions team today.

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