Auction roundup – is spring the ultimate season for…

This follows a recent warning that urgent action is needed to tackle the 50,000 failed property deals so far this year.

After a month of timed auctions, March reached an exciting climax with the auction of national properties and a catalog of over 200 lots offered at the live-streamed event, with great results. obtained across the UK.

The auction began with the sale of 71 Leopold Avenue in Birmingham, a three-bedroom semi-detached property in need of renovation and modernization. With an indicative price of over £119,000 plus fees, there was a wave of bidders interested in the investment opportunity, and the property was eventually sold for £290,000.

In Derby, an excellent result was also achieved for 89 Worcester Crescent, a semi-detached property straight out of the 1960s. indicative of over £80,000 plus costs. Still retaining a number of design elements from the 1960s, this three bedroom house could easily become a lovely family home.

Also in Derbyshire, this time in Alvaston, another fantastic result was achieved, this time in partnership with Hannells Estate Agents. 23 Bracknell Drive sold for £131,500 and had been listed for £95,000 plus plus expenses. Originally a three bedroom property, the semi-detached bungalow sits on a generous plot with plenty of space making it an excellent development opportunity for the lucky buyer to turn it into a fantastic home.

The month also saw strong results from timed auctions. Land at Northrepps Cromer High Station was sold on behalf of Norfolk County Council and was the subject of a very competitive online auction, with over 100 bids placed over the course of 4 days – including 88 on the last day of the auction. The land itself, which is 2.39 acres, has development potential (subject to planning permissions) and achieved a final turnover of £182,500 from the original indicative price of £40,000 £ plus expenses.

There was also some exciting auction activity with the sale of Hazeldine in Stoke-on-Trent, carried out in partnership with James Du Pavey in Stone. With a guide price of over £275,000 plus costs, this detached period house unfortunately suffered fire damage and, after 63 bids placed on auction closing day, sold for £321,000 .

Andrew Parker, Managing Director and Auctioneer, comments: “It’s fantastic to see the variety of results we’ve been able to achieve this month for buyers and sellers across the UK. We are proud to be able to offer real estate auctions that continue to enjoy a failure rate of less than 1%, providing safety and security to our clients when they need it most. »

The April National Assets Auction takes place on Thursday, April 28, followed closely by the Knight Frank Live Auction on Thursday, May 12.

Anyone wishing to auction their property, whether through the live auction or through an online timed auction, can contact the SDL Property Auctions team on 0800 046 5454 or visit the website to find out more.

Record-breaker – iamsold sells £107m worth of goods in March

Residential property auctioneer iamsold has announced a record month of success with £107.7million of property sold by their partner agents in March alone.

This exceptional month marks a growth of 35% compared to the same period in 2021. The online auctioneer’s network of partner agents also recorded more than 1,000 contracts concluded in March, making it the most loaded so far.

The success comes from the growing number of real estate agencies choosing to work with the Group, and more and more sellers choosing auctions to benefit from a fast, secure and transparent method of selling.

Jamie Cooke, Managing Director of iamsold, said: “It is so encouraging to see auctions continue to grow in popularity. We’ve seen a continued increase in consumer confidence and awareness, which is evident in the number of deals we’ve seen over the past 12 months and certainly this quarter, where we’re hitting record numbers every month.

“The auction is a win-win situation for both buyers and sellers in today’s market, from the continued rise in sale prices achieved at auction to the time to completion, we see the auction really stand out in the market as a option for more and more people.”

He adds, “Buyers and sellers today want more and being offered a choice that suits their personal circumstances is only part of that.”

Good results for Sutton Kersh Spring Auction

Sutton Kersh Auctions held its spring auction on Thursday April 7, where the auctioneer sold over £9.3million worth of goods.

Over 500 people registered to bid at the event, and it was watched by hundreds across the country.

The team sold over £3.5m worth of goods ahead of the live-streamed event, which was around a quarter of their lots. The auction consisted primarily of vacant residential properties and residential investment opportunities.

The first lot on offer that day was a three-bed terraced property in the L11 area of ​​Liverpool, which required a comprehensive program of renovation works. It had a £70,000 guidebook and sold for £101,000 on the day.

Cathy Holt, Associate Director, comments: “We have offered a significant number of vacant and residential investment properties in this auction and once again they have been exceptionally popular both before the auction and on the day same.”

Judging by demand, Holt says Liverpool is still proving to be a popular city to invest and reside in, with “plenty of attractive property opportunities” available across the city.

She adds: “Lot 7 is a great example of this; a three bedroom terraced property in L11, in need of complete renovation and modernization, which sold for £25,000 above its guide price of £80,000.”

Some apartments were heavily overbid and ended up selling at similar prices. For example, lot 34 was a flat in Fairfield L6 with a £125,000 guide and lot 44 was a flat in Old Swan L13 with the same guide. The first sold for £148,000 and the second for just £500 less.

One particular lot that generated a lot of interest was Lot 30, a two-bed terraced house in Wavertree, which has a long-time tenant on site and sold for £78,000.

Holt goes on to say, “The properties currently rented out were very popular. This is because the tenants are already occupied and therefore there is a guaranteed income from the properties at the end of the sale, so they are ideal for investment purposes.

Lot 66, a duplex apartment in a Grade II listed building in L17, a popular southern suburb of Liverpool, saw an exceptionally high number of bidders. It had a list price of £115,000 and sold for £137,000.

One of the trends that Sutton Kersh is seeing is an increasing number of people investing in property on the outskirts of the city centre, hence the high demand for redevelopment and residential properties here. Lot 78, a two-bed mid-terrace house to be renovated on Grantham Street at L6, sold for £24,500 above its list price of £60,000, which was one of many to bolster this trend.

Sutton Kersh will hold its next auction on May 26, 2022.

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