Landwood Online Auction Platform Delivers £7.5M

Landwood's Online Auction Platform Delivers £7.5M

Landwood Property Auctions are hailing the success of their online-only approach, after selling £7.5million of property during lockdown.

While the coronavirus outbreak forced traditional auctioneers to radically alter how they operate, Manchester-based Landwood have continued to hold their weekly auctions without interruption – while enjoying a surge in registered bidders who, in turn, have pushed sale prices to new heights.

Recent successes include: 

  • A three-bed terrace in Sefton, Merseyside with a guide price of £25,000, selling for £71,500 after attracting 167 bids.
  • A plot of land in Stroud, Gloucestershire with a guide price of £100,000, selling for £325,000 from 150 bids.
  • A plot of land in Stalybridge, Cheshire with a guide price of £5,000, selling for £95,250 from 298 bids.
  • A plot of land in Ashton-under-Lyne, Gtr Manchester with a guide price of £25,000, selling for £140,250 from 388 bids.

After social distancing regulations closed the country’s auction houses – many responded by holding their regular monthly or six-weekly sales behind closed doors and broadcasting them online.

Landwood’s approach has always been more tech-driven – using its platform to dispense with a physical auctioneer and allow more bids to be taken in a shorter space of time – maximising potential returns for sellers and giving buyers more opportunities to secure a property.

Landwood Property Auctions Director Kate Lay said: “While lockdown has presented significant challenges for many in the market, we have found the opposite to be true.

“As online property auction experts we’ve seen record numbers of bidders taking part, driving sales to £7.5million since March.

“And as others in the industry have been playing catch-up, we have operated entirely without disruption.

“Holding our sales on a weekly basis – in contrast to the industry standard four-week approach – allows us to actively engage with potential buyers for longer and deliver better returns for clients.

“Because we’ve been holding property auctions online since 2018, we really understand how to deliver the maximum return for sellers and a seamless experience for buyers.”

Landwood is expecting the strong performance to continue into next month. While July last year saw 46 lots listed, the total this year already stands at 60, with a further 20 likely.

These include a studio flat in Manchester’s Beetham Tower where footballers Cristiano Ronaldo and the Neville brothers have owned property, with a guide price of £115,000.

There is also a three-bed semi in Blackpool with starting bids of £85,000 alongside a pair of former Cumbria County Council care homes. One in Barrow-in-furness with a guide price of £100,000 and another in Carlisle with a guide price of £125,000.

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