Judging by the shaking of heads at prices achieved, the honeymoon may be over for bargain hunters expecting absolute rock bottom prices at auction, according to industry experts Bigwood in Birmingham.

Bigwood's latest auction held at Aston Villa FC saw more than 600 registered to bid in a packed sales room that saw fierce bidding for lots that sold for a total of £7,134,500 on the day - expected to top £8 million with post-auction sales.

Under the watchful eye of the "Homes Under The Hammer" TV cameras, bidding was fierce and prices generally across the board were reported to be on the up.

Of the 132 lots listed in the catalogue 117 were offered with 83 selling on the day and a number selling prior to the day - with others expected to sell privately following the auction.

Auctioneer Rory Daly said: "We had a record number of people registering to bid and luckily after such a busy March auction we had ordered a number of new bidders' paddles - which was just as well!

"We sold 21 of the 24 lots offered on behalf of Birmingham City Council and Sandwell Metropolitan Borough Council - 87.5 per cent.

"Small development sites sold particularly well, especially those sold on behalf of Sandwell Council. We are noticing a significant increase in the sale of small development sites which is a trend that has been developing over the last six months."

Nine parcels of ground rents were offered, all of which sold, and residential investment properties sold better than in the March auction.

Notable lots included 26a Spring Hill Passage, Spring Hill, Birmingham, a vacant freehold parcel of land with derelict garage which sold for £56,000 against a guide price of £25,000.

A vacant leasehold detached bungalow at 389 Walmley Road, Sutton Coldfield, sold for £175,000 (reserve £98,000).

And even former public toilets at Muntz Street, Sparkbrook, Birmingham, achieved £72,000 against a guide price of just £15,000 - 380 per cent better than expected.

Another vacant freehold detached property at 77 Alexandra Road, Tipton, with a guide of £48,000 sold for £96,000.

A fire damaged vacant freehold corner shop with living accommodation over at 47/48 Park Road East, Tipton, sold for £76,000 against a guide price of £20,000.

Unity House, a pair of substantial vacant three storey semi-detached properties at 255-257 Grove Lane, Handsworth, Birmingham, sold for £246,000 having been offered with a guide of £175,000.

A flat at Petersbourne Court, Petersfield Road, Hall Green, Birmingham, achieved £88,000 against a guide of £62,000.

In the weeks before the auction, there were 72 viewings of 221 Grange Road, Kings Heath, Birmingham, a vacant freehold two bedroom mid-terraced property in need of modernisation throughout which sold for £130,000 over a guide of £95,000.

Bigwood's joint head of auctions Jonathan Hackett said: "There was a lot of tutting and shaking of heads in the sales room, which is always good for both vendors and the auctioneers alike.

"To say that we had 83 unconditional exchange of contracts in one day at a time when some people are still trying to talk the market down is pretty encouraging."

Bigwood's next auction, also at Aston Villa FC, is on Thursday, July 21, with a closing date for entries of Friday, June 17. For more details call Jonathan Hackett on 0121 456 2200.

For more information about Bigwood please visit their website here: www.bigwood.uk.com