A leading property auctioneer in Nottingham has seen £1.5 million of property sold under the online hammer in its busiest online auction to date since launching in 2014.
Richard Reed MRICS, head of property at John Pye Property Auctions, said: “Our previous online property auction continued to exceed the value and volume of all other auction to date. This shows a real shift in market trends, a demand to buy property online and an increased confidence in snapping up property as an investment proposition.
John Pye Property is the first in the UK to take its commercial and residential auctions entirely online. The growing auction house has recorded its highest number of lots in the May auction (36) and a record number of bidders to date with interest as far as Cornwall, London, the midlands, North West England and Dubai.
On average John Pye Property achieved a record average sales value of more than £120,000 per property.
Richard added: “We regularly feature properties from London, Manchester, Birmingham and Nottingham and we are the only UK property auction house which carries out property auctions online with a binding contract on the last day of the auction.
“The way we run our online property auctions means buyers don’t need to feel pressured into making a snap decision. They can have the comfort of bidding from their own home or work over a seven-day period.
“Our auctions attract a mix of buyers. Our unique expertise across online auctions means the way we sell property online is a real unique selling point for buyers and distinctive across the industry.”
This month’s property auction by John Pye Property Auctions was set to feature £5 million worth of stock nationwide made up of 42 properties – a 16 per cent increase from the previous auction in May and a record number to date.
