£3m Yorkshire auction ‘bucks property market trends’
A Sheffield auction house is celebrating an 81 per cent success rate at its latest auction despite the UK property market downturn.
In spite of political uncertainty around Brexit causing a dip in property sales, the South Yorkshire firm Mark Jenkinson & Son sold 72 out of 90 lots in their April auction, including commercial and residential properties.
Adrian Little, head of the auction department at Mark Jenkinson & Son, explained: “While there appears to have been a slowdown in the national auction market over the last few months, our region certainly seems to be bucking the trend.”
The April auction brings the company’s total sales to £8.55m so far in 2019, with an average lot value of £119k.
This follows news of figures released by The Essential Information Group in London, which showed Yorkshire as the only area outside the South West to show such positive auction results for 2019 to date.
Adrian continued: “There has been a degree of caution, but our experience is that, despite political uncertainty, it is ‘business as usual’ with builders, investors, developers and owner occupiers showing eagerness to secure their next project, whether that is a ‘do up’ to sell and make a profit from or refurbish for own occupation.”
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