Thrilling auction sees Harrogate terrace sell for £60K above guide price


Posted on Thursday, March 12, 2020

Thrilling auction sees Harrogate terrace sell for £60K above guide price

A terraced house in Bilton has exceeded all expectations by selling for £60,000 more than its guide price at the March property auction held by FSS estate agents and auctioneers.

Another house in Knaresborough sold for £78,000 above its guide price, the hammer almost falling several times during the sale before a new bidder kickstarted the action again.

Auctioneer Richard Smailes said it had been a particularly exciting auction in front of a packed room at Pavilions of Harrogate, as 18 separate lots went under the hammer. 

“Lively bidding, particularly for these two properties, demonstrates precisely how the competitive atmosphere of a busy auction room can help sellers achieve the best possible price for their property,” Richard said.

“Potential buyers could see that these homes were in high demand and this gave them the confidence to bid.”

In the case of the four bedroom stone fronted terrace house on Crab Lane in Bilton, which sold for £220,000 against a guide price of £160,000, Richard said location had been a key factor in its popularity. 

“There was work to be done to modernise the house on the inside but any investment would be worthwhile and the property could be modernised to an individual’s requirements,” he explained. 

The house in Knaresborough that attracted so much attention was in another popular location, on Stockwell Lane, although Richard said the big point of interest for this lot was the fact that it already had outline planning permission for the demolition of the existing bungalow and construction of five new properties on the site. The hammer finally fell at £558,000 after numerous bidders quickly pushed the price past the guide of £480,000. 

Other properties that performed well at the March auction included a three storey stone fronted Victorian property in the heart of Harrogate town centre, less than 100 metres from Harrogate Theatre and Marks and Spencer. The property on Mount Parade had a guide price of £220,000 and sold for £234,000. A former riding school sold for £84,000, significantly exceeding its guide of £50,000.

Richard said: “The sellers of these properties had the certainty of knowing that contracts exchanged as soon as the hammer fell and the completion date was set, meaning they will have the money in their bank quickly.”

The next FSS Property auction will be held at Pavilions of Harrogate at 3pm on Thursday 21st May. To list your property or discuss selling at auction, contact us on 01423 501211.