BRISTOL AND THE WEST COUNTRY’S BIGGEST LIVE PROPERTY EVENT hollis morgan
hollis morgan BRISTOL AND THE WEST COUNTRY’S BIGGEST LIVE PROPERTY EVENT
hollis morgan
hollis morgan
THE MOST SUCCESSFUL
2024 RESULTS
248 # LOTS SOLD 65.8 £m TOTAL RAISED 97 % SUCCESS RATE 24 AVERAGE % ABOVE GUIDE
AUCTIONEERS IN THE REGION SINCE 2010
The Property Market during a waiting game
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It may seem like history now, but casting our minds back to the early months of 2024, election talk dominated the news and current affairs programmes . Once the election had been announced and a new government formed with a huge majority, another waiting game started as the market anticipated the Labour October budget. Two momentous events which in previous times would have virtually brought the property market to a standstill. However, it seems that despite the vagaries of the political world, the public are forming their own views about property. You could say these are cynical views, but I would prefer to use the word pragmatic. In other words, they are concluding that we
continue to live in a world that presents a picture of a difficult ever-changing scene, and you may just as well ’get on with it’ rather than wait for better times. Given these circumstances, what could be more re-assuring than the certainty of bricks and mortar? This was apparent throughout all our auctions during the year where we achieved an extremely high success rate. However, these results were not easily won. Realistic initial conversations with our clients regarding price guides and marketing strategy were the order of the day. Regular reporting to the client during the marketing period and any necessary tweaking of the price often provided
stimulation to the market. And, perhaps not surprisingly, many clients took the opportunity to accept good offers prior to the auction. From my comments, you will perceive that the property market during these ‘waiting periods’ was not for the faint-hearted. It required determination by the client and expert advice from us as auctioneers throughout the whole process. Having said all this, the auction world is full of surprises, as you will see from the featured properties sold. And there were, as usual, some undoubted winners throughout the year. Developers, investors, and those seeking a family home were all out there looking for opportunities.
Prime HMOs and development opportunities created fierce competition in the saleroom, as witnessed by the sale of two properties for the University of Bristol in Woodland Road, Redland where the sale price far exceeded the reserve. Whatever political party is in power, housing undoubtedly remains a big issue. The shortage of suitable housing results in consistently strong demand despite the vicissitudes of the marketplace. Auctions clearly bring action in uncertain times and consistently move the world along while other methods can often be embroiled in ‘the waiting game’.
what could be more re-assuring than the certainty of bricks and mortar?
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hollis morgan | the results speak for themselves
hollis morgan | the results speak for themselves
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