Property Prices Boom at FSS Online Auction


Posted on Thursday, October 1, 2020

Property Prices Boom at FSS Online Auction

Harrogate’s property boom shows no sign of easing as estate agent and auctioneer FSS saw every property that went under the hammer at its October auction substantially exceed its guide price.  

A semi-detached cottage on the outskirts of Greenhow sold for £100,000 more than the guide price of £150,000 after two telephone bidders competed against each other in a lively exchange, pushing the price up to £250,000.

Another strong performer was a three bedroom house in a desirable location on the south side of Harrogate, in need of modernisation, which saw some fierce bidding both on the phone and online. The guide price of £250,000 was soon topped and the hammer fell at £328,500.

In Huby, a three bedroom semi in need of updating sold for £50,000 above the guide price of £180,000 thanks to strong interest from several online bidders.

A detached house in Darley, which is currently rented out and produces an income of £11,400 per annum, sold for £278,000 (guide £250,000).

The other lots included a terraced property on Fountains Avenue in Harrogate which sold for £144,500 (guide £110,000), a semi-detached a few doors down on Fountains Avenue which sold for £147,500 (guide £125,000), a house on Beech Grove in Knaresborough which sold for £181,000 (guide £160,000) and a fully refurbished townhouse on Princess Road in Ripon  which sold for £190,000 (guide £175,000).

Auctioneer Richard Smailes said: “Demand for property in our region is incredibly high at the moment and we were expecting to see some energetic bidding. 

“However, the sale prices achieved exceeded all our expectations with every single property achieving well above the guide price.

“The auction achieved 25% more than our guide prices and sold 100% of everything offered for sale.”

This is the second time FSS has held its famous North Yorkshire property auctions online and Richard said the investment in systems to create a high quality virtual sales room had paid off.

“With careful thought and planning we have created an online auction process that has proven itself to generate all the thrill and excitement of a traditional auction room,” he said.

“We had remote buyers bidding by telephone, by proxy and online and there was a very strong competitive atmosphere throughout.

“The October auction has shown that virtual auctions are an excellent way to achieve the best possible price for suitable properties and a quick sale.

“Sellers will have the money in their bank before Christmas and buyers have the certainty that the transaction will be completed in good time to take advantage of the current stamp duty holiday,” Richard added.

The next FSS online auction will be held on Thursday 3rd December. To discuss listing your property contact the auction team on 01423 501211 (option 3).