"At the end of 2024, there was a general sense of frustration among buyers and sellers as economic uncertainty persisted and expectations for multiple interest rate cuts in 2025 lessened. However, this result demonstrates that there is still strong activity in the residential sector"
- Richard Adamson - Allsop
Property consultancy and auction house, Allsop has announced that it raised £32m at its first residential auction of 2025, representing a success rate of 88%.
The highest-value lot – a freehold building comprising two self-contained flats – sold for £1.35 million after competitive bidding, with over 60 parties registering to bid. Other lots included a range of residential and mixed-use investment and development opportunities across the UK.
Allsop’s auction arm concluded 2024 raising over £1bn from both residential and commercial auctions, despite political and economic turbulence and slower-than-expected interest rate cuts.
Highlights of the residential auction included Lot 70: Harewood, South Croydon – a freehold detached building internally arranged to provide 7 self-contained flats, sold for £850,000 from a guide of £550,000+, Lot 17: Pimlico, London – a leasehold self-contained third floor flat, sold for £755,000 from a guide of £675,000+, and Lot 84 – Herne Hill, London – a freehold semi-detached house, sold for £720,000 from a guide of £670,000+
“Following a record year in 2024, where Allsop achieved over £1bn in auction sales, our first residential auction of the year has been a great success," noted Richard Adamson, partner and residential auctioneer, "The £32m raised is nearly £18m more than at the same time last year," he added.
"At the end of 2024, there was a general sense of frustration among buyers and sellers as economic uncertainty persisted and expectations for multiple interest rate cuts in 2025 lessened. However, this result demonstrates that there is still strong activity in the residential sector.
"In a challenging market, achieving a success rate of 88% - above the industry average of 75% - shows investors remain willing to deploy capital into residential property, provided sellers’ pricing expectations align with market conditions. We are already looking forward to our next auction on 19th and 20th February, which will feature over 230 lots and is set to attract strong interest,” he concluded.
