Page 20 - The Negotiator Mag 52pp

AUCTION MARKET HEATS UP AS HOUSING MARKET COOLS
Properties are still in high demand claims Auction House London, with no drop in the number of lots selling or in the number of bidders registering to buy at auction.
In its June sale, 92 per cent of the 130 lots offered sold, raising more than £25m.
Auctioneer and Director, Andrew Binstock said: “There are reports that the market is softening but so far that is not evident in the auction room with competition remaining strong.”
Properties with potential are
terrace house before it sold for £370,000.
Andrew added: “From our perspective, the number of buyers and the amount of properties we have to sell are remaining consistent. There are plenty of serious buyers willing
to fight hard for a property in the auction room but with a possible cooling of the market, buying at auction is all about the potential that can be achieved with a purchase. People still feel that investing in property is a safe bet.”
being snapped up, with many selling well above their guide and reserve prices. A three-bedroom mid terrace house in Chiswick was guided at £775,000 and sold for £946,000. It needed total refurbishment and had the potential to be extended into the garden and loft once planning is approved.
Left: Chiswick. Above: Enfield. Right: Staines, Middlesex
In Enfield, a three-bedroom semi which needed refurbishment was guided at £430,000 before the hammer came down at £552,000.
Also in Middlesex, bidding started at £200,000 for a two-bedroom
SMITH AND SONS JULY HIGHLIGHTS
HOLIDAY HOME POTENTIAL
Smith and Sons reported excellent sales figures from
its July auction, with several residential properties selling for above guide price.
One three-bedroomed home in Wallasey Village sold for £106,500 against a guide price
of £90,000. Situated within
easy walking distance of local amenities and only a few minutes’ drive from the New Brighton, the property had been reroofed, benefits from gas central heating and double glazing as well as a modern kitchen and bathroom fittings.
In Liverpool, an extended two- bedroomed and two-bathroomed house offered an excellent refurbishment project for the buyer, who won the bidding with a final sale price of £91,500, more than £30,000 above guide price.
One of the most popular properties, a three-bedroom semi-detached in a highly regarded and sought-after residential area in Irby, sold for more than double the guide price.
The home, which offers potential to extend to both the side and rear and backs on to woodland, sold for £310,000 against a guide price of £150,000.
Entries are now being taken for the September auction.
20 AUGUST2022 TN0822_Auction News glfin.indd 3
Wallasey Village
Liverpool
Irby
Properties of all shapes and sizes were available in SDL Property Auctions July sale, with a couple of holiday let possibilities as the UK’s heatwave continued. catalogue
In Caernarfon, a terraced two-bedroom cottage packed with plenty of character presented a great investment opportunity
at a guide price of £59,000+. Situated on the doorstep of the Llyn Peninsula, the property
benefits from having a number
of independent shops, public houses and other amenities on
its doorstep, making it ideal for anyone looking for a holiday cottage. There is also the additional potential to gain a refurbishment grant from the local council of between £15,000 and £30,000.
Another characterful cottage in Brent, Devon, has two bedrooms and sits within the town centre as
Left: Caernarfon. Above: Brent, Devon. Below: Rough Heanor Farm, Derbyshire.
well as being on the south edge of Dartmoor National Park. Retaining some period features such as barn-style doors and a stone fireplace, the property went under the hammer with a guide price of £134,000+.
For the more adventurous, a substantial, brick built Georgian former farmhouse, set in just over 10 acres of land with a range of outbuildings in Derbyshire, was offered at a guide price of £685,000+.
www.thenegotiator.co.uk
28/07/2022
11:48
AUCTION NEWS