So far this year, Sutton Kersh has reached sales of over £30.6 million, selling 292 lots.
With all of the recent news about property prices falling and the demand declining, the team were still able to achieve sales of over £6.85million in this month’s auction.
That being said, it was clear that there was a change in bidding and buying at this auction, as there weren’t as many bidding wars, and although properties were selling at or above their guide prices, they seemed a lot slower to sell.
Associate Director of Sutton Kersh Auctions, Cathy Holt, commented:
“We were really pleased with our results. There’s a little bit more normality returning to the property industry since the COVID-driven surge in property prices, and with less hiked up or over exaggerated prices, the market should attract more buyers and investors. The remainder of the year will certainly be an interesting one to keep an eye on.”
There were, however, some standout lots like lot 60 on the popular County Road, L4. This property offers an exciting redevelopment opportunity comprising a block of three interconnected retail units together with 2 floors of accommodation above, as well as land to the side of it. It had a guide price of £275,000 and, after an exceptional amount of interest and bids sold for £350,000.
Lot 52, a 4-bed vacant residential investment opportunity in Halewood, which requires a refurbishment and modernisation was listed with a guide of £135,000 and it sold for £170,000
Another residential Lot that was popular was in Seaforth, again a 4 before property in need of refurbishment, but following the works, the property would be suitable for occupation, resale or investment purposes with a potential annual rental income of approx £11,400 per annum.
Their next auction will take place on 11th September and is sure set to be an interesting one!
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