Find out what sold in Auction House's December property sale

Chartered surveyor Robert Hurst says that this is proof that, during political and economic uncertainty, the auction market still performs well.

“It was our largest December land and property auction ever,” he says. 

“With current political turmoil, it is normal that the interest in auctions is growing.  

“This happened back in the crash of the 1990s and then again in the financial crash of 2008. In uncertain economic times, auctions offer a viable way to buy and sell quickly and efficiently with less stress than through traditional private treaty sales. 

During political turmoil, buying and selling at auction remains stable, says Robert Hurst, as it offers a viable way to buy and sell quickly and efficiently with less stress than through traditional private treaty sales (Image: Getty Images)

“Auctions show a barometer of the property market and an early steer of the direction the overall market is heading in. With base and mortgage rates increasing, the looming recession and cost of living crisis, it is no surprise that traditional property sales are taking a hit.  

“During a market downturn, property auctions offer a sensible route to market and we expect interest to continue rising as we head into next year.” 

There were 184 registered bidders at Wednesday’s auction, which lasted four hours with hundreds tuning in to watch from all over the country and abroad. 

“There were a number of highlights, one of which was the sale of a building plot set in three acres off Church Road in Tilney St Lawrence. Guided at £150,000, numerous internet, proxy and telephone bidders pushed the final hammer price to more than double its guide at £303,000. 

“The highest priced lot of the day was a 17-bedroom detached Victorian former care home set in nearly a third of an acre on Euston Road in Great Yarmouth which sold for £427,000.  

A vacant shop and three-bed flat on Tombland in Norwich sold for £325,000 (Image: Auction House East Anglia)

“The lowest price lot of the day was a small 275 sq/m parcel of land in Hockering which sold for £3,000, showing the wide range of prices achieved.” 

Other sales included: 

• A vacant shop and three-bedroom flat on Tombland in Norwich sold for £325,000. 
• A pair of period semi-detached cottages requiring complete renovation on Shipdham Road in Dereham sold for £171,000. 
• A two-bedroom semi-detached house let producing £675 pcm (£8,100 pa) on Aylsham Road in Norwich in Norwich sold for £122,000. The adjoining two-bedroom semi-detached house producing £510 pcm (£6,120 pa) sold for £118,000. 
• A three-bedroom semi-detached house requiring updating on Farrow Road in Norwich sold for £260,000. 
• A three-bedroom terrace house requiring modernisation on Wolseley Road in Great Yarmouth sold for £98,000. 
• A three-bedroom terraced house on Admiralty Road in Great Yarmouth sold for £100,500. 
• A 1,342 sq/ft storage building on West End Street in Norwich sold for £125,500. 
• A two-bedroom mid-terrace house in need of modernisation on Charles Avenue in Norwich sold for £188,000. 
• One acre of established deciduous woodland off Weston Hall Road in Weston Longville sold for £30,000. 

A mixed-use property comprising a vacant shop and two-bedroom flat on Avenue Road in Norwich sold for £275,000 (Image: Auction House East Anglia)

• A single building plot for detached dwelling off Tottington Road in Thompson sold for £90,000.
• Over a third of an acre of amenity land on Turf Moor Road in Sculthorpe sold for £39,000. Nearby, another third of an acre parcel of land off The Street sold for £30,000. 
• Nearly an acre of grazing land off Hall Lane in Baconsthorpe sold for £30,200. 
• A Grade II listed terraced cottage requiring updating on the High Street in Coltishall sold for £122,000. 
• A one-bedroom second-floor flat on Cliff Parade in Hunstanton sold for £125,000. 
• Over two thirds of an acre of land with potential off Snow Street in Roydon sold for £109,000. 
• Around quarter of an acre of land with potential off Thomas Bishop Close in Sea Palling sold for £42,000. 
• 2.6 acres of grazing land off Back Lane in Burgh Castle sold for £18,500. Nearby, 4.2 acres and 5.2 acres off Marsh Lane made £25,750 and £41,250 respectively. 
• On instruction of receivers, a 2,710 sq/ft office building with planning permission to convert into eight flats off South Quay in Great Yarmouth sold for £184,000. 
• A vacant shop and let self-contained flat producing £500 pcm (£6,000 pa) on Regent Road in Great Yarmouth sold for £165,000. 
• A mixed-use property comprising a vacant shop and two-bedroom flat on Avenue Road in Norwich sold for £275,000. 
• A three-bedroom end terrace cottage on New Street in Cromer sold for £246,000. 
  
  A Grade II listed terraced cottage requiring updating on the High Street in Coltishall sold for £122,000 (Image: Auction House East Anglia)

“As we move towards the year end and the festive season approaches, we would like to thank all our many sellers and buyers for their support and for choosing Auction House this year,” says Robert.  

“To them and to all our other clients and customers, may we take this early opportunity to wish you a merry Christmas and a healthy New Year.” 

The firm’s next auction will take place on Wednesday, February 8, 2023 and the team are conducting free appraisals.  

More information can be found online at auctionhouse.co.uk/eastanglia, or by calling the team on 01603 505100. 

Auction House East Anglia provides free appraisals and more information can be found on the website at auctionhouse.co.uk/eastanglia. Alternatively, call the team on 01603 505100.