2019 AUCTION HIGHLIGHTS
What a year!
will go down in the annals of Hollis Morgan’s Auction history as one of the most unpredictable, challenging, rewarding and exciting years since we established our firm in 2010.
The reasons were obvious, Europe and the extremes of moving from a minority government to one with the largest majority for decades all reflected in the mood of the property market throughout the year.
properties, sales could only be described as frenetic with buyers so eager to purchase before the actual auction date that outstanding offers were being submitted and accepted. Despite all this our finely tuned auction team were able to swiftly re-act to these oscillating conditions and we maintained our high sales success rate of well over the national average. We were privileged to receive some really interesting instructions from Lavatories in Bedminster, an abattoir in Nailsea to a abandoned Georgian Gem in Gloucester and everything in between with the usual plethora of houses, blocks of flats, building plots,commercial property, HMO’s, prime investments to ‘top of the range’ family homes. A common theme for the year was the lack of instructions as, not surprisingly, diffident vendors tried to predict the future. Outlined below are examples from each auction which reflect the above observations moving from a good start to a static Spring and Summer with a new optimism manifesting itself as the year ended. In conclusion, the success rate and prices achieved over the guide price remained consistent and in some cases – spectacular. Looking ahead vendors should now feel confident to sell and we anticipate great prices being achieved under the hammer in 2020.
When questioned about what the market was doing during this period, it was impossible to give a general answer as everything moved at different speeds. Some areas of the market were completely dead, others static whilst, in many cases, for prime in 2010 we have sold the most £££'s of land and property by Public Auction in than all the other Bristol and North Somerset – EVERY YEAR! – and now with over £300m of auction sales since 2010! DID YOU KNOW? Last year Hollis Morgan sold more £££'s of land and property by auction than all the other Bristol and North Somerset Auctioneers combined with over £43m of successful sales. And since we formed
BRISTOL AND THE WEST COUNTRY ' S BIGGEST PROPERTY EVENT
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