Palace Auctions London | London’s Leading Property Auctions
| Metric | 2023 | 2024 | Change |
| Lots Sold | 25,375 | 28,063 | +10.6% |
| Total Funds Raised (£ billion) | 4.83 | 5.50 | +13.9% |
| Average Sale Price (£) | 190,315 | 195,969 | +2.9% |
| London Average Sale Price (£) | — | 583,143 | — |
| Success Rate (%) | 75.6 | 74.3 | −1.7pp |
| Buyer Type | Market Segment | Typical Focus Areas |
| First-Time Buyers | Entry-level and value-add lots | Croydon, Walthamstow, Stratford |
| Buy-to-Let Landlords | Income-producing assets | Canary Wharf, Battersea |
| Domestic Luxury Buyers | Prime central London | Mayfair, Knightsbridge, Kensington |
| US Investors | Super-prime (£15m+) | Belgravia, St James’s |
| Middle Eastern Investors | Trophy assets | Knightsbridge, Belgravia |
| Asian Investors | New builds, student housing | Nine Elms, Canary Wharf |
| Institutional Investors | Commercial & mixed-use schemes | Regeneration zones, City fringe |
| Borough | Avg. Price (£) | Avg. Rent (£) | Rental Yield (%) |
| Tower Hamlets | 456,375 | 2,244 | 5.9% |
| Southwark | 476,177 | 2,219 | 5.59% |
| Newham | 430,000 | 1,875 | 5.23% |
| Barking & Dagenham | 340,400 | 1,435 | 5.06% |
| Greenwich | 430,000 | 1,780 | 4.96% |
| Term | Definition |
| Lot | An individual property or parcel sold at auction . |
| Guide Price | Indicative price to encourage bidding; may sit below reserve . |
| Reserve Price | Seller’s minimum acceptable price, not disclosed to bidders . |
| Hammer Price | Final bid accepted when the auctioneer’s hammer falls . |
| Legal Pack | Documentation (title, searches, special conditions) prepared by seller’s solicitor . |
| Modern Method of Auction | Online format with longer completion (up to 56 days) . |
| Proxy Bid | Maximum bid lodged in advance, placed by the auctioneer . |
| Completion | Final transfer of funds and title after deposit . |
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