Sutton Kersh online property auction raises £9m

Liverpool property firm Sutton Kersh live-streams its latest auction to more than 600 would-be bidders across the UK and exceeds its first online event by £2m. Tony McDonough reports

Sutton Kersh
One of the residential properties sold in the Sutton Kersh online auction

 

Sutton Kersh raised £9m from its second online property auction – £2m more than the first one held in May.

And, similar to the May event, Liverpool-based Sutton Kersh’s July sale was live-streamed to people across the country. There were more than 640 registered bidders and 88 properties were sold.

Prior to the auction day, the team sold an 25% of properties with a total value of £3.5m. So far this year through four auctions, Sutton Kersh has sold a total of 296 properties more more than £28.5m in total.

Cathy Holt, associate director of auctions at the firm, said: “The bidding was strong from the start with the first three lots selling over their guide prices. We are delighted to have sold 80% of properties so far with more offers being made as we speak.

“It is a good time to invest in property right now and we have noticed a definite peak in interest of residential properties. Residential dwellings across the country were more popular than ever in this auction, which could have something to do with the low interest rates and the recent changes to stamp duty.

“The recent introduction of these schemes by the Government makes investing in property a lot more attractive to many.”

Lot 10, a three-bedroom residential development property in the Waterloo area of Merseyside, sold for £34,000 over its guide price. Rightmove, the UK’s largest property website, recently carried out research showing three-bedroom homes have become the most sought after property type.

This was reinforced in the auction by the interest in the three- bedroom homes they had on offer both on the day and prior to auction. 78% of the three-bedroom properties offered have been sold subject to contract.

Sutton Kersh Auctions is now taking instructions for their next auction which will take place on September 10.

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