Online auction activity surges from last year

10 July 2020 | General

Auctioneer iamsold has seen sales outdo last year, as people look for safe ways to buy amidst the pandemic.

Compared to last year sales are up 20% and viewings 22%, as the company has seen both surge since the start of June.

Jamie Cooke, managing director of iamsold, said: “It’s really encouraging to see this spike in activity. Our estate agent partners are reporting activity levels between 50 to 100% of pre-Covid-19 levels, and they are feeding back that market appraisals are on the rise so further growth is set to come.

“A significant trend is that those requesting market appraisals are what we would classify as non-discretionary sellers in the main, who need to sell and are not just testing the market.

“This could be people needing to downsize, relocate to be near family or indeed separations leading to the sale of the family home.

“Our feeling is that non-discretionary sales will be a significant proportion of opportunity seen in the coming months, and as a result, we are gearing up for a busy summer as we support our agents by delivering a fast and secure way for their clients to buy and sell property through bespoke online auctions.”

This post has originally been featured in Property Wire.