As the world takes another step towards restoring normality, we have seen several changes at Auction House East Anglia and to the property market as a whole.
It’s no surprise that lockdowns have caused a number of people to reassess what’s important to them in a property, with green space being highly sought-after now and even more interest as people look at locations other than London!
After an increase in housing prices in March 2021, Andrew Wishart, a property economist at the consultancy Capital Economics, stated that this could ‘mark the start of a strong summer’. With the housing market now enjoying a mini-boom and Stamp Duty and 95% mortgages in place there’s arguably never been a better time to get yourself on the ladder. So if you’re new to the game, here’s what to expect from AHEA...
It’s important to remember that buying or selling at auction is a much more instantaneous process than your traditional process - as soon as the gavel goes down the sale is final, with the completion/key handover typically happening 28 days later.
We aim for our auctions (whether virtual or in-person) to feel as welcoming as possible, but if you’re feeling a bit out of your depth with all the terms have a read of our breakdown of terminology here. As the world went virtual, our auctions certainly didn’t take a hit - our most recent online auction on the 24th March saw 50 lots sold, giving us a 77% success rate and a total of £8.2 million sold!
We’re proud to be the Eastern Region’s leading Land and Property auctioneers and are always here to help your auction journey run as smoothly as possible. If you’re selling, we offer free valuations to make the process feel that bit easier and relieve a bit of financial pressure. It’s useful to note that an auctioned property will usually be sold with an immediate exchange of contracts within 6 weeks of it being entered, with completion expected to take place 4 weeks later.
As we look forward to the future of auctions, we expect to see this interest in auctions continue and hope that you choose to be a part of our future successes.
If you have any questions about the auction process, what we do, or are just curious to know more then please get in touch - our teams are always here to help.
We also recommend keeping an eye on our socials to remain up to date with new properties, announcements, and any general goings-on:
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