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Auction House announces impressive Q1 results

Tuesday 21st April 2015

Written by Conor Shilling

Auction House has released impressive first quarter results for 2015, selling a total of 611 lots in the first three months of the year.
The group offered 816 lots in the period, equating to a success rate of 75%, and raised a total of £69 million.
The results are released as Auction House has recently launched an upgraded website and an online auction service which uses eBay-style bidding.
Commenting on the figures, Auction House Founding Director Roger Lake said: “Yet again, Auction House’s Q1 results are unmatched by any other auctioneer in the country. We’re particularly pleased that the group is performing so well in these months of uncertainty just prior to a General Election, which are always a challenge for the property industry as a whole.”
Lake suggested that this month’s pension reforms will lead to higher demand for residential investment properties as almost 20 million people have been given unprecedented access to billions of pounds of pension contributions.
“The beauty of property is that it’s seen as a tangible asset without the complication of other investment types, is something which can provide a regular rental income, and can offer a relatively safe long-term investment compared to equities. There is every reason to believe that auction properties will form part of the portfolio of options in which people choose to invest,” he said.

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