The appetite of investors was firmly in evidence at the latest auction held by All Wales Auction on the 8th October in the Village Hotel, Cardiff, where many lots sold for well over their guide price.
Following a successful August, where 92% of lots sold, the October auction was very well attended and saw a wide variety of properties from all across South Wales selling at the fall of the gavel; from Blaenavon in the East to Kidwelly in the West. Bidding was fast on the night resulting in 96% of lots selling at the auction, raising over £2million.
Developed by estate agency Peter Alan in partnership with North Wales based estate agent Williams and Goodwin, All Wales Auction is designed to offer an alternative platform for buyers and sellers who may not want to go down the traditional selling route of private treaty. Auction is a fantastic option for those with unusual properties, those who may require a quick sale or those with properties that require complete renovation.
One of the most successful lots was a two bedroom mid terrace property on Fitzroy Street in Cathays, Cardiff, which was guided at £75,000. The property was in need of a total renovation with many areas of the property being unsafe to enter, but even so it raised great interest with possible purchasers. Bidding was strong during the auction, which led to the property selling for £139,000, greatly outperforming the guide and delighting the sellers.
Another highlight during the auction was a three bedroom property in need of refurbishment on Heol Waunclun in Trimsaran, Kidwelly, which sold for three times over the guide price of £15,000.
Diane Fairchild, Auction Manager, commented, “I am thrilled with the success of our October auction, it was our busiest action of the year with very strong bidding from buyers which resulted in a number of excellent prices being reached for our vendors. With our combination of realistic guide prices, intense property marketing and our award winning, highly experienced auctioneer Melfyn Williams, we believe that the best possible price is always achieved.”
All Wales Auction is now taking entries for the final auction of the year on 3rd December. Previous years have shown that this is often a particularly strong auction for property sale and the team are keen to speak to property owners who wish to sell by Christmas.
For more information about All Wales Auction, contact 0800 905 905 or email southwales@allwalesauction.com
