Despite slowing inflation Sutton Kersh Auctions sell over £9.5 million worth of property!

With the recent news of inflation falling and uncertainty over interest rates, properties were still selling for over guide prices proving the demand is still there in Merseyside and further afield.

The interest in the Lots offered by Sutton Kersh Auctions at their third auction of the year was high, seeing the team sell over £5.9 million worth of property prior to auction. After the main event on Thursday 23rd the total stood at over £9.5 million.

The successful auction house offered some fantastic Lots that generated some great results. Residential properties are still in huge demand and the auction started well with Lot 1 which was a three-bed semi-detached house in L36. It’s a blank canvas with bags of potential for the new owner to make their dream family home, also offering potential to extend to the side and rear and provide a loft conversion subject to any consents. With a guide price of £135,000 it sold for £161,000.

Another residential property offered, Lot 6, was this two-bed end town house in L13, Old Swan. Following modernisation, the property would be suitable for resale, occupation or investment purposes with a potential rental income of approximately £10,200 per annum. It had a guide price of £100,000 and sold for £116,00.

Lot 11, a three-bed end terrace in the popular residential and investment area of L4, saw a high level of interest and sold for £30,000 over its guide of £100,000.

Lot 31 was an attractive city centre freehold offering seven good sized bedrooms over three floors, with two shared bathrooms and two double bedrooms with ensuite shower rooms and a communal living room and kitchen. It currently produces a gross annual income of £49,440 per annum. This Lot had a guide price of £450,000 and went on to sell for £502,000 at auction.

Lot 45 was the ultimate 'doer-upper' with a guide price of £200,000. This 4/5 bed double fronted middle terraced property is in the prime location of L15, near Allerton Road. Despite it needing a full upgrade and scheme of refurbishment works it sold for £232,000.

Cathy Holt Associate Director comments, "With the announcement of the election and the recent property news around interest and mortgage rates, I understand people are being more cautious. But as we can see from our auction results, if the properties are correctly priced there is still demand for them."

Their next auction will be taking place on 18th July.