New Homes For Sale in Motspur Park by Auction With Allsop

Next week sees the unusual situation of a development of brand new homes being sold by auction, through well-respected property consultant Allsop. Here, Simon Capp talks us through the properties available at Parkgate House in Motspur Park and how the auction process will work for interested house-hunters.

Hi Simon, please tell us a little about yourself and Allsop.

I joined Allsop in 2016 to work alongside Gary Murphy, head of residential auctions, to develop this innovative sales method for new build property. My career has specialised in tailoring sales campaigns for many of the UK’s leading developers and housebuilders.

Best known as the UK’s largest auction house, Allsop is an independent property consultancy with over 100 years’ experience in commercial and residential property. Allsop sells over £1bn of real estate at auction every year. In September 2017, our residential auction team raised £71m - the highest ever sales total for a September auction on record.

Building on this success, we have recently launched our New Homes Online Auction platform for the sale of new build property.

You're selling a collection of new homes development by online auction - can you tell us a little about the development, the properties and the event?

Parkgate House is a development of newly designed studio and one-bedroom apartments, developed by Stonegate Homes. It is located in the south-west London village of Motspur Park, close to Raynes Park and Wimbledon. The development is located moments from Motspur Park station, offering regular trains to central London (Vauxhall and Waterloo) in under 24 minutes.

Using our New Homes Online auction platform, we will be offering 24 apartments ranging from 334 to 452 sq ft. All have modern open-plan living areas and quality fitted kitchens and bathrooms. They are ideal for first-time buyers, investors or those looking for a pied-à-terre. Most apartments come with parking. The apartments will be ready to move in early 2018. The auction takes place online on Tuesday 12 December. As the auction event is online, buyers can bid from wherever they are based.

What is the auction process that buyers need to go through?

The first stage is to register for information, which is easily accessible on the website www.allsopnewhomes.com. Buyers who plan to bid on the advertised auction day complete a short process; providing ID and proof of address. A bidder security sum of £2,000 is paid by credit card. This is automatically refundable if a buyer is not successful. On auction day, the properties time out one-by-one, allowing buyers time to identify and bid on their chosen apartment.

What is it that attracts buyers who prefer new build over re-sale property?

Offering modern design, clean finishes, better energy efficiency and are easy to maintain, new build properties are an increasingly attractive proposition. They are often more secure too, giving buyers and investors peace of mind.

Do you think the removal of stamp duty for first-timers was a little shortsighted of the Chancellor?

Affordability and supply in the housing market is a complex problem that cannot be solved by one measure alone, but in the short-term, the removal of stamp duty will be welcome news for first time buyers.

Have you found many older buyers looking to downsize to new build?

New build property can be an attractive alternative for older buyers, especially as most schemes offer good security, considered design and convenience. These are factors with a universal appeal though, so we are seeing an increasing catchment of new build buyers in general, and particularly in London.

How do you see the market performing in 2018?

We expect continued strong appetite for well-priced stock. Good investment opportunities within London and across the regions are anticipated to remain sought after. Buyers are expected to remain discerning; it is important vendors are realistic with pricing and their strategies for selling. We foresee continued buoyancy from the owner-occupier, investor and buy-to-let catchments.