Sutton Kersh’s July auction in Liverpool was another huge affair, with more than £4m in property sales, suggesting that Brexit is having a limited impact on the property market.

Over £1m of property was sold prior to the auction, with a further £3m during the auction.

Cathy Holt, associate director of auctions at Sutton Kersh said:

“Bidding was strong and we saw several properties go for well above the guide price. In total we also sold 70% of the 90 lots at auction.”

She added:

“There’s been a lot of talk in the property sector over the impact of Brexit on property sales, but sales showed no signs of flagging this auction, with bidding fierce on a number of properties, and sales still strong across the board. If anything, the results of Brexit, with rumours that the Bank of England will drop the base rate, is driving interest in the market and increasing the level of sales.”

There were a number of lots and investment opportunities which saw particularly strong bidding with some going for almost double the guide price. These included:

Lot 18 – Three self-contained flats on Croxteth Grove close to Sefton park; offered at a guide price of £90,000 with a potential rental income of £9,380 per annum, which sold for £120,000.

Lot 32 – Eight studio flats in Fairfield, close to Liverpool city centre, with a guide price of £90,000 and a potential annual rental income of over £47,000, which sold for £128,000

Lot 54 – a cleared site on Windsor Street with close proximity to Princess and Sefton Park. The site suitable for redevelopment into a block of apartments or retail unit had a guide price of £35k and sold for almost double, with a final bid of £60k Cathy explained: “With 70% of properties sold, it’s a good gauge of the market, which in the Liverpool City Region at least, is remaining buoyant.”

For more information, visit www.suttonkersh.co.uk/ auctions or call 0151 207 6315.