Allsop’s residential sales total for the year reaches £243 mln (UK)

Allsop completed its final residential auction sale before the summer recess on Thursday raising almost £50 mln (approx. €63 mln) from the sale of 189 lots. This brings the firm’s residential sales total for the year to £243mln (approx. €308 mln), with an average success rate of 86%.
The sale was dominated by London and the South East with over half of all lots offered located in these areas.
Speaking after the sale, auctioneer Gary Murphy saidWe were pleased with the overall result.  However, we are definitely noticing an easing in demand, particularly for lots in excess £1mln (approx. €1.2 mln).  As always, pricing is critical and aspirational reserves can present challenges."   Income producing lots fared well with all regulated tenancy investments offered selling at an average yield of 3.9%.  Assured shorthold tenancies averaged 7.2% and assured tenancies 7.74%.
Source: Allsop

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