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Auction House £42.7m sales

publication date: Aug 2, 2010
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auction houseAuction House has published its results for the first six months of 2010, announcing total sales of £42.7m.
The property auctioneer held 41 auctions in 17 UK locations, selling 451 lots, at a success rate of 69 per cent.

Founding Director Roger Lake said, “These are impressive results for the first half of the year – especially when you consider the stalling effect that the General Election had. Despite this, our network of regional auction rooms has powered ahead.”

Figures for June stayed buoyant, with 124 lots selling at 11 auctions, raising a total of over £11m (11.6m).
Roger Lake said, “Concerns about the Emergency Budget meant that many clients sat on their hands. The lowerthan- feared rise in CGT combined with the fact that the hike was immediate, meant that the market wasn’t suddenly flooded, which would have had a downward pressure on prices.”