There has been a lot of speculation around the property market this month after the rise in interest rates and strain on many with the increases of cost of living & energy bills. Despite this uncertainty there still seemed to be a demand to invest in properties. This was highlighted with Sutton Kersh Auctions selling 35% of their Lots prior to auction day, which totalled just over £3.9 Million.
The auction itself saw multiple bidding wars and resulted in the team selling a total of 82% of Lots offered equating to a sales value of £8.2 Million pounds.
Sutton Kersh offered over 100 Lots for their May auction which were a mix of Vacant residential, investment & development as well as land and commercial Lots.
Cathy Holt Associate Director of Sutton Kersh Auctions said, 'Buyers are still keen to invest in the right properties or land and there was a high demand for vacant residential properties in this auction, with many of them selling for a considerable amount over guide price.'
An example of this was demonstrated early on in the auction on Lot 7 in L13 Old Swan. This 2 bed mid terraced property in need of a full refurbishment had a guide price of £70,000 and sold for £28,500 over its guide.'
Also a 1 bedroom flat in Tuebrook had a guide of £15,000 which then went on to sell for £25,000.
Lot 71 on Townsend Avenue in L11 area of Liverpool, also received a significantly high level of registered bidders. This resulted in a strong bidding war for this 3 bedroom middle town house, which ended up selling for £46,000 over its £85,000 guide price.
Along with Lot 73 on Bagot Street in the popular area of L15 had guide of £65,000 and went on to sell for £125,000. This was again a 3 bed mid terraced property.
Lot 45 sold for its guide price of £50,000 a ground floor commercial prenises which was a takeaway for 17 years on Utting Avenue.
A plot of Land at Long Causeway in Sheffield, had a guide price of £ 17,500 and went on to sell for £41,000
Also slightly further afield, a 3 bedroom end terrace property in the highly sought after area of St Ives in Cornwall sold for an impressive £372,000 which was £122,000 over its guide of £250,000.
Sutton Kersh's next auction will take place on 14th July.