September was another record month for Pattinson’s experienced auction department as both residential and corporate vendors turned to the service for a swift property sale with a guaranteed reserve price.
Over 200 properties were listed in the auction catalogue, which was downloaded over 10,000 times over the course of the month, in addition to being distributed from 30 region-wide branches. The addition of a new live online auction to supplement the monthly auction at Newcastle Falcons’ Kingston Park has also created huge interest.
Pattinson is the largest and highest ranked auction house located outside London and the South East and at 9th place in the National Property Auction Index, the only North East company to feature in the national top 25.
Richard Francis, head of Auction at Pattinson, said: “Last month was a record auction for us and we had a great turnout at Kingston Park again, achieving an increase in sales compared to this time last year. This shows the market is still very much alive and kicking and with our new online service we’re attracting even more interest than before.
“We’ve seen a huge uptake in auction from corporate vendors such as new homes builders and developers. Some are looking to sell off a part exchange property portfolio but often they are trying to help their own buyers who have an existing property to sell.
“This system is working extremely well for the new home buyer and the developer, hence we’re developing strong relationships with well-established companies including Bellway, Barratt, Shepherd and Yuill Homes.”
Last year Pattinson recorded sales of over £106 million – it’s highest number yet through auction, securing its status as the highest ranked auction house located outside London and the South East.
Rob Armstrong, Bellway North East’s sales director, said: “We’re always looking to lend a hand to buyers so that they can move up the property ladder. It can be difficult for those buyers with a property to sell first, so we use a range of incentives to help where possible, including part exchange and Express Mover.
“If we can use an experienced auction service, like that offered by Pattinson, to add another solution for our buyers then we’re happy to do so.”
Richard added: “Since we held our first property auction back in 1991 the perception of the service has changed tremendously. We’re seeing a much greater number of prestige and family homes being listed each month as customers choose this route to a faster sale in what is a difficult market.
“We introduced the Conditional Auction concept 13 years ago to make the service more accessible to all homebuyers and vendors and our continued progress up the national auction rankings confirms our approach in taking the auction concept to the ‘ordinary’ residential market.”
In the Conditional Auction, the buyer pays a non-refundable deposit following a successful bid and exchange of contracts occurs within 28 days. Pattinson also offers the more traditional Un-conditional Auction, where the buyer pays a ten per cent deposit and sales are completed within 28 days.
Established by Keith Pattinson over 30 years ago, Pattinson offers a wide range of property services, including residential and commercial sales and letting, as well as monthly auctions held at Kingston Park Rugby Club, Newcastle.
In addition to its high street branches across the region from Stockton and Middlesbrough in the south to Ashington in the north, Pattinson operates an extended hours customer contact centre and has an extensive network of agents working from home.
