SPRING AUCTION SEES 70% SALES AT SMITH AND SONS PROPERTY AUCTION
Wirral Property Auctioneers, Smith and Sons, have once again achieved a success rate of over 70% sales in its latest auction.
With 22 properties offered on the day, 15 sold, smashing the £1million barrier in sales.
Houses in need of refurbishment once again proved to be most popular, with several substantially exceeding the guide price. Stand out lots included a house in Withens Lane, guided at £70,000 which achieved a final sale of £108,000, Bramblewood Close in Birkenhead, guided at £65,000 sold at £93,000 and a home in Orchard Road, Whitby guided at £90,000 sold for £136,000.
Chris Johnson, Auctioneer at Smith and Sons commented: “Properties in need of refurbishment, improvement and repair are always the most popular attractions in the auction room. These properties tend to represent opportunities where the greatest return on investment can be made and are suitable either for owner occupation, onward sale or investment.
“Often these properties come to auction following probate as when selling a probate property, the auction is undoubtedly the best way of realising a high price. The deal is agreed swiftly and with transparency which both buyers and sellers appreciate.”
Smith and Sons has seen a general upturn in interest in the auction property market during the past six months.
Chris continued: “We have seen a busier room with a higher percentage of sales in the past three auctions. Despite the changes to stamp duty, there is still a good return to be made in the local property market where many are using property as an alternative to a pension.”
The closing date for Smith and Sons next auction is 1st June. For a free appraisal, contact Annette Shelley on 0151 647 9272 or email email@example.com