Auction House East Anglia held its eighth and final auction of the year on Wednesday, December 13, selling around 50 total lots and raising over £7 million.
Robert Hurst, chartered surveyor, said: “It was our largest December land and property auction ever. Auctions show a barometer of the property market and a steer of the direction the overall market is heading in.
“In uncertain times, auctions offer a viable way to buy and sell quickly and efficiently with less stress than through traditional private treaty sales. With inflation down by more than half from its level at this time last year, and the Bank of England base rate currently stable, there may be more stability in the market in the new year.
“As these economic conditions settle and the cost of debt starts to fall, it could provide sellers with confidence that there will be a new wave of buyers who may have previously held back out of an abundance of caution.
“There were a number of highlights, and the highest priced lot of the day was a four-bedroom detached house set in 1.5 acres on Salhouse Road in Rackheath, which sold for £500,000,” Robert continued.
“The lowest priced lot of the day was a 42ft six-berth ocean going boat moored on the River Yare at a boat yard in Brundall, which sold for £5,200. This demonstrates the wide range of prices achieved.”
A mixture of lots including residential, commercial and land went under the hammer and some of the sales include:
- On behalf of a housing association, a three-bedroom semi-detached house requiring modernisation on Braymeadow Lane in Little Melton sold for £248,000.
- A three-bedroom semi-detached bungalow requiring updating on Gowing Road in Norwich sold for £192,500.
- A detached bungalow set in over an acre and requiring modernisation on Dog Lane in Horsford sold for £317,500.
- On instruction of power of attorneys, a two-bedroom mid-terrace house requiring modernisation on Onley Street in Norwich sold for £170,000.
- A two-bedroom end terrace house on Nile Street in Norwich sold for £205,000.
- A three-bedroom end town house requiring updating on Northumberland Street in Norwich sold for £190,000.
- A three-bedroom terraced house on Gwydir Street in Cambridge sold for £392,000.
- A two-bedroom end of terrace cottage in need of modernisation on Staton Road South in Belton sold for £122,000.
- A two-bedroom mid-terrace house in need of improvement on Clay Road in Caister sold for £81,000.
- A parcel of land extending to 0.34 of an acre off Manor Road in Caister sold for £90,250.
- A redundant Methodist chapel in need of renovation on Carbrooke Road in Griston sold for £34,500.
- A redundant chapel and school on Downham Road in Fincham sold for £154,000.
- A third-floor two-bedroom flat on Anchor Street in Ipswich sold for £145,000.
- On behalf of a council, a single-storey 40sq/m commercial property on Rider Haggard Road in Norwich sold for £75,000.
- An end terraced property arranged as two studio flats on Grimwade Street in Ipswich sold for £65,000.
- A sixth-floor one-bedroom flat on Carr Street in Ipswich sold for £71,000.
- A single building plot for a detached house set in half an acre off Cromer Road in High Kelling sold for £370,000.
- A two-bedroom end of terrace house on Kitchener Street in King’s Lynn sold for £90,000.
- On behalf of a council, a three-bedroom semi-detached house in need of modernisation on Wootton Road in King’s Lynn sold for £225,500.
- A detached four-bedroom house on South Street in Swineshead sold for £154,000.
- A three-storey, five-bedroom semi-detached house let producing £23,833 pa on Kings Road in Spalding sold for £155,000.
- On instruction of receivers, a mixed use property comprising a ground floor shop and one-bedroom flat above on West Street in Wisbech sold for £72,000.
- One acre of land at Drinkstone Green near Bury St Edmunds sold for £80,000.
- A terraced house in need of modernisation on Stradbroke Road in Gorleston sold for £136,000.
- A two-bedroom terraced house requiring refurbishment on Burnt Lane in Gorleston sold for £92,000.
- A four-bedroom detached bungalow on The Firs in Carlton Colville sold for £206,000.
- A single building plot with planning permission for a two-bedroom linked end terrace property on Green Lane in Kessingland sold for £50,000.
“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,” said 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.
“Entries into our future auctions are always invited and our first two auctions of the new year are on Wednesday, February 7 and Wednesday, March 20.
“We continue to provide free appraisals and remain fully committed to doing what we can to help our sellers and buyers.”
If you have land or property that needs to be sold, you can contact Auction House East Anglia at auctionhouse.co.uk/eastanglia or call 01603 505100.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article