More than £12m was raised at the latest Sutton Kersh property auction taking the total for the year so far above £36m. Tony McDonough reports
Sutton Kersh has raised more than £12m at its latest Liverpool property auction taking its total receipts to more than £36m so far this year.
Since last spring, the company has been conducting its auctions via webinars due to the COVID-19 pandemic. However this has not deterred bidders and the live-streamed events are viewed by hundreds of people across the UK.
It held its third auction of the year on May 27 with more than 500 bidders registered. The team had 151 properties listed for the auction and sold just under £4m pounds worth of lots prior to the live-streamed event.
A further £8m worth of property was sold on the day, equating to 85% of lots offered. The first lot, a three-bedroom, three-storey terraced house in east Liverpool sold for £46,000 over the guide price.
Lot 3, located in the same area of the city, had a guide price of £75,000 and it sold for £115,000. This too was a three-bedroom residential property which needed modernisation. Further to this, Lots 5,6, and 7 in north Liverpool all sold for at least £25,000 over their guide prices.
Residential properties in Liverpool, Cheshire and throughout the UK also proved popular. Another property, in Childwall in Liverpool, generated a lot of interest both prior to auction and on the day. The three-bedroom semi-detached property that is currently let, sold for more than £40,000 over its guide price.
Cathy Holt, associate director of Sutton Kersh Auctions, said: “Today was a huge success with us selling 111 properties and also this is our third auction of the year and, like the February and April ones, we have managed to once again sell over £10m pounds worth of property.
“We also saw our auction follow suit with the UK market trends of there being a huge demand for residential properties. And we have seen that homes located on or close to the UK coastline 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. Sutton Kersh Auctions will be holding its next auction on July 15.