The UK’s largest property auctioneer, Auction House – operating as Auction House Cumbria in your area - is reporting a record second quarter in 2023.Q2 sales have risen from 988 in 2022 to 1,225 this year (an increase of 24%) and money raised is up from £155,322,545 to £171,864,939 (a rise of over 10%).

Year-to-date sales are impressive too, showing a 22% increase (2,305 this year compared to 1,887 properties in 2022) and over £28 million more raised in 2023 than for the same period last year (£319,997,799 up from £291,884,492).

Auctioneer, Colin West said: “What’s remarkable about these figures is that the property market is getting increasingly more challenging and yet our sales figures continue to rise. As auctioneers, we’re having to contend with a toxic combination of increasing interest rates and decreasing levels of confidence as well as political uncertainty both at home and abroad.

However, the underlying belief in bricks and mortar as a secure medium to long term investment remain and there are some fantastic opportunities out there for the cany investor.” Colin West admits that there are fewer bidders in the market but says that this fact highlights the importance of getting the pricing for each lot absolutely correct.

Over the four auctions we have had this year, we have offered 140 properties with a success rate of over 90% sold.

We are now taking lots for our next auction on Thursday 31st August, please contact the office on 01228 510522 or cumbria@auctionhouse.co.uk to arrange your FREE auction appraisal. Suitable auction lots include, residential, commercial or mixed use properties either tenanted or vacant and development sites including building plots or amenity land.

Email: cumbria@auctionhouse.co.uk

Web: Auction House Cumbria

Tel: 01228 510552