Smith and Sons Wirral Auction Bucks the Property Trend With 60% Success Rate
28 July 2008
The latest Smith and Sons property auction, that was held on 16 July at the Village Hotel, Bromborough, bucked the trend of the current property market by achieving a successful sale with 17 out of 30 lots sold at or above the reserve figures, totalling £1.7 million raised.
Despite a slightly quieter room - which was expected in the current market climate – Smith & sons auctioneer Chris Johnson commented that he was delighted with the success rate that shows there is still demand for properties at auction that require refurbishment either for owner occupation or with letting potential. However, realistic guides and reserves are essential to obtain a high success rate.
Houses in Grasville Road, Tranmere and Langdale Road, Liverpool, both saw lively bidding resulting in prices well in excess of the reserve and it is expected that several post auction sales will be agreed over the next few days.
The success rate of nearly 60% is well in excess of other local auction sales and Smith and Sons can advise on potential lots for the next auction.
The next Smith and Sons auction sale is to be held on 29 October with a closing date for entries of 24 September.
