The Allsop & Co Residential Auction held on 15th February recorded over £50m, the highest result for a one-day residential auction ever. Only the two-day auction in November 2002, which raised £55.7m, managed to beat the amount raised. The success rate currently stands at 87%, but will probably rise further due post-auction sales. This result is in contrast with a slightly more subdued market at the last few auctions, and shows the renewed confidence in the residential market. Yields on ASTs and RTs fell slightly again, whilst yields on ATs surprised us by falling strongly after it had increased during the previous six auctions. The strength of the market in February was over and above what Allsop had initially expected.