Home sells for £117,000 over guide price after 101 bids

Our latest online auction saw some staggering results with £1.25million worth of lots sold - including a property, guided at £200,000, which went under the virtual hammer for £317,000.

Our auction on 6th-7th December saw particular interest for Number 23, Longwater Lane, Old Costessey, Norwich which received 101 bids.

The 1930s property in need of renovation has an entrance hall, two bedrooms, two reception rooms, a kitchen, conservatory and bathroom, situated in 1.5 acres of gardens.

Longwater Lane, Old Costessey

The online auction saw almost 20 lots for sale.

Another highlight was a property in Ardney Rise, Norwich, a detached, two-storey building currently comprising a pair of semi-detached shops with first floor offices, sold vacant. This was for sale for a guide price of £140,000-£150,000 and sold for £194,000.

Ardney Rise

The good news is that there is still a market and a need to buy property."

Peter Hornor, Chartered Surveyor and Auctioneer, said: "Our auction saw some outstanding results. We offered property across the ranges, some in need of renovation and disposed of lots totalling around £1.25million."

Other results included:

• Land on the north side of Cromer Road, West Runton, for sale for a guide price of £175,000-£225,000, which sold for £241,000.
• 10, Gawdy Road, Norwich, for sale for a guide price of £140,000-£160,000 which sold for £165,000.
• 102, Northgate Street, Great Yarmouth, for sale for £80,000-£100,000 which sold for £90,000.

Mr Hornor added: "One lot was sold prior. The good news is that there is still a market and a need to buy property. Auctions continue to demonstrate that they are a good way of maximising value. 

"We are now looking ahead to 2023; we have 28 lots for sale in early February and we look forward to holding more online auctions across next year."

If you are looking to sell or buy at auction, you can contact Peter Hornor and the Auction team in Norwich on 01603 629871.

See full results here