Over 1,000 people tune into online auction - but which properties sold?

62 Muriel Road, Norwich, which sold for £240,000 at an online property auction with Auction House East Anglia

62 Muriel Road, Norwich, sold £240,000 - Credit: Auction House East Anglia

Auction House East Anglia held its first auction of the year on Wednesday, February 9, selling 42 out of 47 lots giving an 89pc success rate, and raising over £7 million. 

“We are thrilled with the results of our first auction of the year,” said Robert Hurst, chartered surveyor and auction manager. “There were over 250 registered bidders and over 1,396 people watched the four hour auction with some impressive prices achieved.

“One of the highlights was the sale of 27 Beach Road in Scratby. On instruction of executors, the detached property had been in the same ownership for over 100 years. In need of complete modernisation and improvement, the large 1.44 acre plot offers development potential. Guided £375,000 a number of internet and telephone bidders pushed the final hammer price to £534,000.

27 Beach Road, Scratby, sold for £534,000 in an online property auction with Auction House East Anglia

27 Beach Road, Scratby, sold £534,000 - Credit: Auction House East Anglia

“The speed at which we can progress sales through to completion has proven attractive to buyers and sellers, especially whilst private treaty completion timescales remain higher than ever. Fast and reliable completions have always been high on the list of buyer and seller priorities, and auction is the ideal solution in the face of high fall-through rates.

"Data from the last three months of the year shows that the return to normal market conditions meant 34pc of property sales in England fell through before completion in the final quarter of last year.

“Looking ahead to this year, we expect the number of properties going under the hammer to rise, especially with the increase in distressed stock hitting the market because lenders will continue disposing of assets after an enforced interval, now that the courts have re-opened.

“Even as restrictions lift in the coming months, we think that now people have experienced the ease and comfort of buying property in a live stream or online auction for the last two years, they will want to continue doing so from the comfort of their home or place of work.”

Upper Dovercourt Methodist Church, sold for £180,000, at an online property auction with Auction House East Anglia

Upper Dovercourt Methodist Church sold for £180,000 - Credit: Auction House East Anglia

Auction House East Anglia sold a mix of lots, including residential, commercial and land. Some of the sales included:

  • A detached chalet bungalow which was formerly two properties on Dennis Road in Hellesdon sold to a bidder for £385,000, well in excess of its guide price.
  • A detached two-bedroom chalet-style lodge property requiring modernisation on Yarmouth Road in Norwich sold to a telephone bidder for £270,000.
  • A three-bedroom terraced house in need of updating and redecoration on Muriel Road in Norwich sold for £240,000. Having languished on the private treaty market for some time the seller was delighted to finally have got an exchange of contract.
  • A Victorian mid-terraced property currently let producing £695 pcm (£8,340 pa) on Denmark Road in Norwich sold for £178,000.
  • An end terrace cottage requiring complete refurbishment on Press Lane in Norwich sold for £162,000.
  • A Victorian end terraced house in need of some improvement on Stuart Road in Norwich sold for £199,500.
  • A two-bedroom detached bungalow let at £650 pcm (£7,800 pa) off Dereham Road in Norwich sold for £198,000.
  • A two-bedroom mid-terrace house off Bull Close Road in Norwich requiring remedial repair and improvement sold for £155,500.
  • A character cottage with sea views on New Street in Cromer sold for £288,000.
  • A vacant restaurant with living accommodation above on Marine Parade in Great Yarmouth sold for £193,000.
  • A two-bedroom terrace house requiring updating on St Peters Street in Lowestoft sold for £96,000.
  • A two-bedroom ground-floor flat in need of updating at Briar Court off Guardian Road in Norwich sold for £129,000.
  • A two-bedroom first-floor freehold maisonette on Harewood Drive in King’s Lynn sold for £67,000.
  • A one-bedroom ground floor flat on Tennyson Avenue in King’s Lynn sold for £58,500.
  • A one-bedroom ground floor maisonette at Anchor View, North End in Wisbech sold for £39,500.
  • A fully occupied, four-bedroom semi-detached house of multiple occupation producing an income of £18,050 pa on Princes Street in Wisbech sold for £130,000.
  • A parcel of amenity land extending to around 0.12 of an acre off Mill Road in Thompson sold for £30,000.
  • A Victorian end terraced house requiring full renovation off Bramford Lane in Ipswich sold for £128,000.
  • A three-bedroom Edwardian semi-detached house in need of building works off Green Lane in Peterborough sold for £181,000.
  • A three-bedroom semi-detached house let producing £700 pcm (£8,400 pa) off Queens Street in March sold for £120,000.
  • A one-bedroom end terraced coach house let producing £450 pcm (£5,400 pa) off Wharf Street in Sutton Bridge sold for £53,000.
  • A rectangular shaped parcel of land measuring approximately 1.4 acres (stms) off Willow Green in Barroway Drove sold for £42,000.
  • A single building plot with full planning permission for a four-bedroom detached dwelling off Vicarage Road in Wingfield sold for £130,000.
  • 1.54 acres of land with development potential next to a council car park off the High Street in Stalham sold for £276,000.
  • An extended four-bedroom semi- detached house off Beaumont Vale in Haverhill sold for £270,000.
  • A former Methodist church extending to over 2,800 sq/ft off Main Road, Dovercourt, Harwich sold for £180,000.
  • An end-terrace house requiring improvement off St Peters Road in Great Yarmouth sold for £76,000. An adjoining mid-terrace house let producing £450 pcm (£5,400 pa) sold for £86,000.
  • A four-bedroom end terrace house in good decorative order off Nelson Road Central in Great Yarmouth sold for £120,000.
  • An end terraced house in need of modernisation on Osborne Street in Lowestoft sold for £98,000.
  • A let shop producing £8,000 pa off London Road North in Lowestoft sold for £86,250.
  • A two-bedroom detached chalet in need of modernisation on Spencer Drive in Lowestoft sold for £219,000.
36 Marine Parade, Great Yarmouth, which sold at Auction House East Anglia's live sale for £193,000

36 Marine Parade, Great Yarmouth, sold for £193,000 - Credit: Auction House East Anglia

Auction House East Anglia is now taking entries for its next auction on Wednesday, March 23, with a closing date for entries towards the end of February. 

If you have land or property that needs to be sold, you can call the auction team on 01603 505100 for free impartial advice, or contact them through the website at auctionhouse.co.uk/eastanglia.