There was over 100 Lots on offer with many of them selling prior in the 2 weeks before the auction itself. Buyers were predominantly interested in the investment opportunities as opposed to the properties most suitable for immediate occupation. Vacant land was also on offer, as well as a handful of mixed-use commercial lots in prime areas of Liverpool.

Lots like 71 Holmes Street, a two-bed mid terraced home in L4, were in need of a full refurb but with a potential rental income of around £7,000 it sold for over double its guide price. The demand for these traditional auction style properties saw bidders from across the country engaging in online bidding wars.

Lot 28, a three-bed mid terraced property in need of a complete upgrade but located in the heart of the popular suburb of South Liverpool, had a guide price of £160,000 and went on to sell for £212,000.

Another perfect auction property was Lot 41 on Bedford Road in Bootle, again a three-bed mid terrace which needs modernization and a full upgrade. Once works are complete the potential rental income would be around £10,500 per annum. This property was listed with a guide price of £60,000 and went on to sell for £100,000.

A commercial mixed-use property on Priory Road in L4 gained huge interest prior to auction, as well as on-the-day, and sold for £21,000 over its guide price. This was an incredible price for a three storey mixed-use property with an already established rental income.

However, the star of this auction had to be Lot 43, a substantial three storey property on Hartington Road L8, which has a total of 5 self-contained flats but needed a complete refurbishment. It was listed with a guide price of £200,000 and after a lengthy bidding war it sold for a huge £353,000 due to the incredible potential.

Cathy Holt, Associate Director of Sutton Kersh Auctions, comments “We had a fantastic catalogue of stock to start the year and it was good to see so many buyers from across the country interested in the properties we had an offer, which in turn resulted in bidding wars and great results for our vendors. Our next auction is on 3rd April and it will be interesting to see the buyers preferences on Lots. Last year the demand for residential properties suitable for owner occupation was exceptionally high, and we expect this trend to continue.”

As highlighted by Cathy, last year buyers were keen to buy auction properties for occupational purposes as opposed to investment opportunities, and with the stamp duty changes around the corner, this year’s property market will be one to watch.