Insatiable demand during record year for North Devon auctioneer

Property wk39

Property wk39 - Credit: Archant

Auctioneers say a record amount was raised by North Devon properties going under the hammer last year.

Property wk39

Property wk39 - Credit: Archant

Auctioneers at Phillips Smith and Dunn say a record £8million was raised by North Devon properties going under the hammer in 2015.

The total, which included sales prior to and after auctions, also highlighted an ‘insatiable’ demand for land lots throughout the year, according to company auctioneer Andrew Levick.

This included 29 acres on the edge of Northam, which realised an average of more than £22,000 per acre in the spring sale.

Land with stabling also had tremendous appeal, with five acres on the outskirts of Croyde realising £123,000.

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Properties for improvement were also extremely sought after and the sale of Dolton Mill House raised considerable interest in the July auction.

This was offered with a guide price of £250,000 but subsequently sold for £360,000 under the hammer.

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The July sale produced a 100 per cent success rate and included a three-bedroom bungalow for improvement in Burrows Park, Braunton, which made £285,000.

A two-bedroom terraced cottage on the seafront in Instow sold for £292,000.

Other notable sales throughout the year included Rosendale in New Street, Torrington – a six-bedroom end-terrace house offered in the September sale with a guide price of £140,000. It had 62 viewings and an end figure of £216,000.

Mr Levick predicts that with interest rates likely to remain competitive in 2016, it is hard to visualise any dramatic changes in the market place.

“The interest in land values shows no sign of abating and properties for improvement, as well as building sites and land development opportunities, are very sought after,” he said.

“This year has underlined the importance of consideration being given to the best mode of sale where a definite result is obtained and certainty replaces uncertainty.”

Phillips Smith and Dunn is happy to provide a no obligation auction appraisal. For more information, call Andrew Levick on 01237 423007 or 07766 831785.

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