Strettons’ November auction was its most successful this year, raising almost £13m and achieving an 83% success rate.
The top lot was a semi-detached house in Tottenham, N17, arranged as five flats, with a guide price of £900,000 to £925,000. It sold for £1.1m – a 3.5% gross yield.
Overall, residential lots at the sale averaged a 5.8% gross yield, while average commercial yields were nearly 6%.
Strettons director and auctioneer Philip Waterfield said he was pleased that the success rate exceeded the auction house’s 2015 average of 78%.
He added: “Given the lack of supply in the market at the moment, and a rise in popularity of certain postcodes, demand has been high.”
Waterfield predicted there would be no drop off in demand while interest rates remain low.
The sale took place at the Grand Connaught Rooms, WC2, on 3 November.
