Allsop, one of the UK’s leading property consultants, has raised a staggering £67.5 million in its biggest residential auction since 2009. The auction, which took place on October 28th, saw a total of 331 lots up for sale, with a success rate of 79%. This impressive figure demonstrates the strength of the property market, despite the challenges posed by the ongoing Covid-19 pandemic.

The auction, which was held online due to social distancing measures, attracted a wide range of buyers, including investors, developers, and first-time buyers. The lots on offer included a mix of residential properties, including houses, flats, and land, located across the UK. One of the standout lots was a portfolio of seven properties in London, which sold for a total of £4.6 million.

The success of the auction is a clear indication of the resilience of the property market in the face of economic uncertainty. Despite the challenges posed by the pandemic, buyers are still keen to invest in property, with many seeing it as a safe and reliable asset class. This is particularly true in times of economic uncertainty, when traditional investments such as stocks and shares can be more volatile.

The strong results of the auction also reflect the quality of the properties on offer. Allsop is known for its rigorous selection process, which ensures that only the best properties are included in its auctions. This attention to detail, combined with the expertise of Allsop’s team of auctioneers, helps to attract a wide range of buyers and achieve the best possible prices for sellers.

One of the key reasons for the success of the auction was the variety of properties on offer. With a mix of residential and commercial properties, as well as land and development opportunities, there was something to suit every buyer’s needs. This diversity helped to attract a wide range of buyers, from seasoned investors to first-time buyers looking to get a foot on the property ladder.

Overall, the success of Allsop’s latest auction is a positive sign for the property market as a whole. Despite the challenges posed by the pandemic, buyers are still keen to invest in property, and auctions are a popular way to buy and sell properties quickly and efficiently. With demand for property remaining high, and interest rates at record lows, now could be a great time to invest in the property market.