STRONG RESULTS AT SMITH AND SONS MAY AUCTION

The latest Smith and Sons property auction realised a strong result, generating some £2.3million in sales, that saw 60% of lots sold.

A marked increase in previous results, the auction saw steady bidding across the board with more aggressive bidding for smaller investment properties where strong returns can be realised.

The largely Wirral-based catalogue included a broad mix of properties ranging from apartments, terraced and semi-detached homes, land and commercial investments. The majority of lots realised a figure that lay close to the recommended guide, reinforcing the notion that auction is a sensible and viable route to buying and selling sensibly priced property, using a quick and transparent process.

Chris Johnson Auctioneer at Smith and Sons explained: “The auction route can often act as a sound barometer for the wider property market and gives a good insight into what’s taking place on a national level. The cost for an average house has hit an all-time high and byers are willing to pay top prices for bricks and mortar.

“The auction room gives those looking to buy and sell property the opportunity to secure a fair and reasonable price for property. The nature of auction is fast paced, and so buyers must do their homework and have their funding in place if they are able to complete the sale, however, the process is straight forward and completely transparent.

“This latest auction produced a strong result and we saw good numbers of interested parties register interest. We’re already accepting lots for our July auction and would encourage those potentially interested in including their property in our next auction to  please get in touch.”