Q & A With James Rossiter 

 Senior Auction Valuer

Are there seasonal trends in property auctions?

Not particularly. Due to the nature of auctions, most sellers and buyers are drawn to the quick and secure timescales, so they always try to buy or sell at the earliest opportunity. Unlike traditional real estate markets, where there may be fluctuations tied to seasons or economic cycles, property auctions maintain a relatively consistent pace throughout the year. This stability is attributed to property auctions’ inherent urgency and transparency, which attract motivated buyers and sellers regardless of the time of year. Consequently, while other property market sectors may experience seasonal variations, the property auction sector exhibits a more uniform activity level year-round.

Do the current economic conditions, such as interest rates and inflation, influence current auction sales in 2024?

Inflation and interest rates affect all buyers and sellers. In particular, with higher interest rates, people who have their fixed rates come to an end and are looking to move the property on rather than commit to higher interest rates. So they look to auction for a quick and easy sale to minimise their losses.

Commercial vs. Residential Auction: Is there a better time of year or seasonal trends for selling different property lots?

There isn’t a trend difference between residential vs commercial at auction. Due to the nature of auctions, most sellers and buyers are drawn to the quick and secure timescales, so they are always trying to buy or sell at the earliest opportunity.

Is there any advice on timescales or timelines for getting your property ready to be listed for auction?

Our deadline for entries closes four weeks before each auction date. We advise you to instruct us as soon as possible so we can offer an increased period of marketing and exposure for the property and maximise the end sale price.

Can tools or indicators from previous auction cycles help predict the best possible sale outcome?

Previous sales of comparable properties are always a good indicator of the demand for a property, the price it is fetching under auction conditions, and the number of enquiries/viewings, etc., we received for those properties.

Any advice for sellers looking to liquidate assets or commercial property investments quickly?

Contact us as soon as possible so we can arrange a free, no-obligation property auction appraisal to help you understand what the property may sell for at auction. Instruct a solicitor as soon as possible to start preparing the legal pack and provide legal advice to avoid delays due to legalities.

Can competing similar properties on the market impact the timing and outcome of your property sale?

Most of the time, this can have a positive impact. For example, if the property requires work, it can help potential buyers see what it will be worth once it is renovated. Also, as auction guide prices are typically lower than market value, this attracts higher interest in the property in question as it will appear cheaper.

Is it possible to anticipate market shifts before an auction?

It isn’t easy to anticipate market shifts, but as our auctions are every 6/7 weeks and due to the number of properties we sell, we have more of a real-time view of the market.

You can view our next property auction here