Barnard Marcus has raised £28m in its most successful sale of the year, helped by bidding wars over lots in the provinces and northern heartlands.
The 16 November sale featured 224 lots, the highest number since May, and achieved a 75% success rate.
Barnard Marcus’ success rates so far this year range from 69% to 78%.
Divisional managing director Chris Glenn said: “Demand is still outstripping supply, with month-on-month growth in capital values.”
He added: “Well located provincial towns also saw an increase in competitive bidding and sales that I do not believe we would have achieved at similar levels some months ago.”
For example, a freehold semi-detached house in Southport, Merseyside, with two bedrooms, let for £7,160 pa, sold for £74,500 off a £35,000 guide, reflecting a 9.6% yield.
A freehold terraced house with a self-contained studio flat in Erith, Kent, producing £25,200 pa, sold for £226,000 off a £170,000 guide – an 11% yield.
Properties within the M25 achieved an overall success rate of 80%, and London lots performed as strongly as ever.
A pair of parking spaces in Balham, SW12, guided at £2,000, were sold jointly with two other parking spaces on the same development for £40,000.
A vacant, freehold, two-bedroom house in Edmonton, N18, sold for £351,000 off a £250,000 guide.
However, the highest value lot of the day – an empty four-bedroom house in Hampstead, NW6, with a studio and the potential for a loft conversion –failed to sell despite bids reaching £2.2m.
The sale was held at the Grand Connaught Rooms, WC2.
