SALES SOARING AT ON-LINE PROPERTY SALE
Smith and Sons has realised a final sale figure of £2.4m for its latest online property auction, achieving a 78% success rate with record number of investors preregistered to bid.
The auction attracted phone and online bids from across the UK and overseas as far afield as Abu Dhabi and intense bidding saw many of the lots achieve a final sale price which far exceeded the recommended guide.
Chris Johnson, Auctioneer at Smith and Sons said: “The current interest in property investment in this region is phenomenal – there is a huge appetite for quick property sales at good prices and in particular for property that is need of upgrading.”
From the offset, bidding was fierce with a terraced property in Prenton achieving a final sale figure of £114,750 against a guide of £85-95,000. This was quickly followed by a two bedroomed house in Birkenhead that went for £65,000 against a guide of £45-55,000.
At the other end of the market, a former care home in Knowsley Road in Birkenhead sold for £429,000 against a guide of £350-400,000 whilst former garages on Mona Street in Birkenhead sold for £89,000 against a guide of £30-40,000.
The lot attracting the most interest was a semi detached house in Hillfield Drive, Heswall which needed a full programme of modernisation and sold for £200,000, £50,000 more than the guide.
Chris continued: “I believe that the current stamp duty holiday is helping drive this level of interest however, people are more generally considering property as a safe place to invest producing high levels of income and a generous yield. The accessibility of the online platform is undoubtedly opening the room up to many new potential bidders.
“I’d encourage anybody keen to secure a quick sale or exploring a possible purchase to consider the auction room as it is a proven method of achieving the best price within a given timescale with no last minute delays’.