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Strong Auction House results show ‘new normal’ is on the way

Property auctioneer Auction House has announced its results for June 2020, despite the ongoing Coronavirus pandemic, with sales exceeding 80% of last year’s level and website visits up by 52% year-on-year, with over 1.7m page views during the month.

In June, Auction House offered 318 lots and sold 259 – a success rate of 81.5%, raising over £34m in the process. Commenting on the results, Auction House founding director Roger Lake said: “It’s clear that the auctions market is regaining the momentum lost during lockdown, with sellers and buyers returning in substantial numbers. Demand is strong and the prices being achieved are impressive. So, it’s fair to say that we are well on the way back to a new normal.

“While our room auctions are paused, people have widely accepted the alternatives of bidding online, by proxy or by phone, and have taken to viewing our livestream sales in huge numbers. The market still has some catching up to do, because many sellers held-back during the tight lockdown months.”

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