May Madness at Sutton Kersh Auctions as they sell over £12 million worth of property

Sutton Kersh Auctions held their 3rd auction of the year on 27th May with over 500 bidders registered. The team had 151 properties listed for the auction and sold just under £4 million pounds worth of property prior to the live streamed event. A further £8 million pounds worth of property was sold on the day, equating to 85% of Lots offered being sold.

The auction started of strong, with the first Lot offered, selling for £46,000 over the guide price. It was a 3 bed, 3 storey end terraced house in L13, which needed a full refurb.

Lot 3 was also situated in the L13 area of Liverpool  which had a guide price of £75,000 and it sold for £115,000. This too was a 3 bed residential property which needed modernisation.

Further to this, Lots 5,6, and 7 Located in the North areas of Liverpool, again were 3 bed properties that all  required refurbishment, all sold for at least £25,000 over their guide prices too.

Residential properties in Liverpool, Cheshire & throughout the UK, were more popular than ever in this auction as there is a clear demand for these types of properties, that can habited following refurbishment / modernisation or let.

A beautiful 3 bed home in L36, that is currently tenanted, produces a rental income of £9,100 a year, it had a guide price of £145,000 and sold for £186,500 which was  £41,500 over the guide.

Another popular residential property in the highly desirable area of Childwall in Liverpool generated a lot of interest both prior to auction and on the day. Again a 3 bed semi detached property that is currently let, sold for over £40,000 of the guide price.

Cathy Holt, Associate Director of Sutton Kersh Auctions commented, ‘Today was a huge success with us selling 111 properties and also this is our 3rd auction of the year and  like the February and April ones we have managed to once again sell over £10 million pounds worth of property thorough our auction. We also saw our auction follow suit with the UK market trends of there being a huge demand for residential properties. We have also seen that homes located on or close to the UK Coastlines are selling for above their guide prices as many investors are looking to let them out or to keep as second homes making full use of the extended stamp duty holiday’.

Properties located on the South Coast saw some strong bidding activity with the majority in this and the surrounding areas being sold prior to the actual online auction, like Lot 138 in Torquay sold for £143,000 which was £43,000 over the guide price despite it needing complete refurbishment.