Auctions are booming, with more than £400m being raised in 128 auction sales across the UK last month – a 50% increase on March last year.
According to the Essential Information Group, which monitors all property auction sales in the country, lots offered rose 18% to 2,880, while lots sold were 2,235 – up 25%.
Historic figures from EIG reveal that the 2,235 lots sold is the greatest number ever recorded in March, surpassing the previous high of 2,220 lots sold in March 2007 when the housing market was at its peak.
At Network Auctions, 76% of lots sold successfully in March and a total of £3.3m in sales value was raised.
Network Auctions’ next auction is on May 1at the Cumberland Hotel, Marble Arch, London:
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