A PROPERTY auction has realised more than £5.2m – providing signs of renewed buyer confidence in the property market.

Proceeds for the two-day sale held by Eddisons in Leeds and Manchester exceeded £5.25m. That compares with just over £4m for Eddisons’ last auction in September. Sixty of the 82 lots were sold – representing 73% of the total lots on offer.

Tony Webber, of Eddisons, said: “There was certainly a greater mood of optimism among investors.

“Development opportunities which have attracted less interest of late due to funding difficulties were the subject of some of the fiercest bidding and achieved prices well beyond their original guide.”

The star lots included a part-completed development of four executive properties at Wakefield, which sold for £810,000 off a guide price of £500,000-plus.

Butterfield Manor, a former old people’s home and day centre in Leeds, which was offered on the instructions of the city council at a guide price of £200,000-plus sold for £330,000.