Sutton Kersh held their penultimate auction of the year on 22nd October, generating sales worth over £9 million.
The team sold just over £4.2 million worth of property prior to auction and a further £5 million on the day. The value of sales for the 40 properties that were sold prior was a record for the team.
The auction itself had over 350 people registered to bid and was again watched by hundreds of people throughout the country. Terraced properties in Liverpool were in high demand at this auction with the majority selling for over their guide price.
Bidding was strong from the start with Lot 1, a 2 bed mid terrace in Widnes, selling for £34k over the guide price of £45k.
Other 2 and 3 bed terraced properties that drew a lot of attention were Lot 26, located on Muriel Street in L4, which was in need of a full upgrade and had 22 people registered to bid for it, finally selling for £41k over the guide price.
Lot 63 on Grantham Street in Liverpool had a guide of just £40k and sold for £74k. This too was a perfect buy for someone looking for an investment property that would also be suitable for rental.
Lot 75, again a terraced property, was on for just £35k and was snapped up for £63k after a bidding war.
A rental investment property which generated a lot of interest was Lot 39 in L30, with a guide price of just £50k, and it eventually sold for £23.5k over the guide. Another investment property in Liverpool, a mixed use three storey development on the hugely sought after Smithdown Road, sold for £35k over the guide price.
Lot 131 in Liverpool also had multiple bidders locked in a ferocious bidding war, which resulted in it selling for just under £100k on a guide price of £65k
Highlights outside of Liverpool included an apartment in London which sold for a great price of £260k, a lovely cottage in Connah’s Quay which was bought for just under £100k and a one bedroom apartment in Sheffield which proved very popular, resulting in it selling for £41k over the guide price.
Cathy Holt, Associate Director commented ‘Our results show that residential properties which are suitable for investment purposes are highly desired and vendors are receiving above their asking price as a result of this increase in demand. I am also delighted that through this pandemic we have still produced such high results and yesterday’s auction brings our total value of sales so far this year to over £47 million and 464 Lots sold.’
Sutton Kersh will be holding their last auction of 2020 on 10th December and are currently taking instructions for this.