Buyers bought 94% of Romans' property auction catalogue

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2 Oct 2017

Buyers snap up 94% of lots on offer at Romans most successful auction of the year

Author: Simon Clayton

Romans enjoyed their most successful auction of the year so far, selling 94% of their September catalogue as bidders sought good quality and value for money amidst political uncertainty. The majority of lots sold for significantly more than their guide prices, demonstrating that correctly and realistically priced properties attract buyers prepared to exchange contracts quickly at a true market value.

Vacant houses and flats for renovation, several in semi-rural locations, plus building plots with planning permission continued to prove as popular as ever. Notable sales included;

10 Queen Street, Caversham, Reading – a vacant 2/3 bedroom Victorian terrace house, with no indoor bathroom and requiring complete renovation received fierce bidding and sold for £68,000 more than its guide price of £220,000, for £288,000.

Delrena, The Splash, Warfield, Bracknell – a vacant 2 bedroom bungalow, suitable for improvement and extension sold for £367,000, £67,000 higher than its guide of £300,000

2 The Crescent, Crazies Hill, Nr Reading – a vacant 3 bedroom semi-detached house in a village location, needing refurbishment sold for £462,000, £62,000 more than its guide. 

20 Trowes Lane, Swallowfield, Reading – a vacant 3 bedroom semi- detached house requiring modernisation sold for £345,000, £65,000 above its guide.

36 – 38 Finchampstead Road, Wokingham – a development site for three 2 bedroom flats close to the train station made £352,000, £127,000 more than the guide of £225,000.

19 Lexington Avenue, Maidenhead – a vacant ground floor 2 bedroom maisonette suitable for letting investment or owner occupation sold for £227,000 from a guide of £215,000.

16 St. Annes Road, Caversham, Reading – a vacant three story semi-detached house configured as 3 flats, received several pre-auction offers, but successfully sold for more at £596,000 off a guide price of £500,000.

65 Station Road, Chertsey and Flat 5, 1 Hingest Road, Bournemouth, both sold for prices higher than their guides prior to the auction.  

Speaking after the auction Simon Clayton, Romans Auctions Director commented, “It was interesting to see multiple bidding on nearly every lot. I was particularly pleased with some of the prices we achieved today, most of which were significantly higher than the guides.

The media has reported that property prices have slowed in recent months although many areas are facing a lack of supply of houses available through traditional sale. This is why more and more people are choosing to buy and sell their home via auction as it offers a quick, secure method of sale and a more transparent demonstration of the property’s value.”

Selling by auction can take the stress and anxiety out of the selling process as it is one of the fastest and most effective ways of exchanging contracts quickly. Romans are now inviting entries for our next auction on 1st November.

If you are considering selling and would like a free market appraisal please contact Romans Auctions on 01344 753120 or auctions@romans.co.uk or visit the website romans.co.uk/auctions  

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