Property remains one the safest investments in an uncertain world, according to Gurpreet Bassi, auctions partner at SDL Bigwood.
He was reflecting on a “very eventful” 2016 and looking ahead to what he believes will be a lively 2017.
Mr Bassi noted: “We ended 2015 with the SDL Group takeover of Bigwood and what a 12-months it has been.
“This unpredictable year will always be remembered for the one that brought us Brexit and President Trump, although there was still the predictability of the England football team failing miserably at a major tournament!
“If you have capital to invest, would you put it in the bank and earn modest interest? Would you invest it in a volatile stock market? Property is still the safest investment in an uncertain world.”
SDL Bigwood Auctions had continued to thrive despite stamp duty changes and buy-to-let tax increases.
Mr Bassi said: “If you are a vendor that needs to sell in a quick timescale and want to achieve the best possible price, our auctions are the place to be.
“If you are a purchaser looking for access to a wide variety of property deals from a single garage to a care home and you don’t want to get involved in ‘sealed bidding wars’ or agents selling to preferred buyers, then our auctions are the perfect place for you.
“We started the year with a record auction raising £17.8 million with a success rate of 94 per cent – by far and away the most successful property auction that has ever been held in the Midlands.
“We have gone on to offer a record 767 lots for sale this year, nearly 140 more than we did last year, and, in a year of records, we also launched our first Coventry auction, the largest ever to be held in the city.”
Following the success of SDL Bigwood Auctions, the SDL Group has gone on to acquire Graham Penny (East Midlands) and Humphreys (Chester). The combined auction network offered almost 1,700 lots in 2016 and sold more than £150 million worth of property.
The network is the fourth largest in the UK and the largest outside of London.
Mr Bassi went on: “I would like to thank our vendors, purchasers and everyone that has played a part in the success of 2016. We have 34 auctions already planned for next year and there will be at least one SDL auction in every month of 2017 starting with our first ever in Stoke in January.
“The SDL Auctions network has some exciting growth plans, so 2017 promises to be another eventful year!”