Liverpool-based auctioneer Venmore achieved one of its best results for five years at their 19th July auction, held at Liverpool Town Hall, where the company raised £1.9m.

The auction, which had 50 lots on offer, generated receipts of £2.2m with 72 per cent of the properties on offer being sold. Post auction sales are likely to push this figure about 80 per cent.

Geoff Guest, commercial director at Venmore’s Dale Street branch, said: "We have seen strong demand, particularly in the residential sector, with savvy investors bidding on the more reasonable priced mid terraced houses."

He added: "We hope that this type of booming property activity will continue for our next auction in September."