Property Auction Market Update for Harlow and Essex

Promotional features / Tue 14th Feb 2023 am28 10:29am

Below, Essex auctioneers Property Solvers provide an overview of the current property auction market in the Harlow/Essex area, including studies of listings and catalogues taken from Zoopla and Auction House Essex and Kent.

Photo by Tierra Mallorca on Unsplash

Guide Prices

According to Zoopla’s residential auction property listings, there were 279 auction properties on the market within a 1-mile radius of the Essex area at the time of writing.

These included detached, semi-detached and terraced lots, flats, bungalows and park homes.

The property with the highest guide price within this selection was a 4 bed detached property in Brentwood, requiring some modernisation, on a plot of 0.9 acres (listed at £1,550,000). This lot had, in fact, been sold prior to the auction – with the agreed price unknown.

The property with the lowest guide price was a 3 bed bungalow in Clacton On Sea, in need of significant renovation, featuring small gardens to the front and rear (listed at £30,000). The lot is to be brought to online auction on 22nd February by Auction House Essex.

This makes the midpoint average price of the area £790,000.

Within a 1-mile radius of Harlow specifically, five properties resulted from a search with the same filters. The lot with the highest guide price was a 3 bed end terrace property in Sawbridgeworth, featuring a modest back garden (listed at £380,000). 

The house will be sold by William H Brown via the Modern Method of auction, with no closing date for bids currently displayed.

The property with the lowest guide price is a 3 bed end terrace property in Harlow in shell condition, which included rear, front and side gardens (listed at £120,000). This lot was due to be sold on the day of writing.

The midpoint average price in this locality is, therefore, £250,000.

Most Popular Residential Lot Types

According to the same source, the type of auction property most commonly available for auction within a 1-mile radius of the Essex area is currently a flat, with 113 listed at the time of writing.

The next most popular is the terraced house, with 77 listed. 

Semi-detached properties have the third most listings – at 42 – and detached properties have the least, at 35.

Within a 1-mile radius of Harlow, no detached properties were listed for auction, nor were any semi-detached homes. The only lots available at the time of writing were terraced properties – of which there were three, and flats – of which there were two.

There are currently no park homes or bungalows available for auction in the wider Essex area according to major listing sites such as Zoopla and Rightmove.

Auctioneer Review

For the below sections, we will use the performance of Auction House Essex & Kent as an example of a popular local auctioneer for this particular market update.

Lots Withdrawn or Unsold

Only two lots have been withdrawn from Auction House Essex & Kent’s current catalogue (8th February 2023). These are of very different types: one consists of light commercial land and buildings in Roydon, while the other is a 3-bed semi detached home in Sheerness.

As the auctioneer’s December session was particularly quiet due to the season, we looked at the auction house’s previous catalogue – for 2nd November 2022. 

This auction featured 23 lots, of which six were withdrawn prior to auction, three went unsold, three were sold prior to the event and four were sold post-auction.

Auctioneer Performance

Auction House Essex & Kent sold 100% of its listed properties at its last auction in December 2022 – although there were only four offered. More typically, Auction House Essex & Kent tends to sell between 70 and 90% of the lots available.

In the past year, this particular auctioneer raised an average of £2,782,000 per auction, with its most lucrative auction date being 21st September 2022, on which £3,966,500 was raised in total.

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