First Sutton Kersh Auctions of 2024

Sutton Kersh Auctions held their first auction of 2024, selling over £9.5 million pounds worth of property.

There was plenty of interest in the properties offered which reinforces the confidence within the current housing market. Liverpool is still as popular as ever for property investment and the demand for properties still seems high in key areas within the city. Last year the market seemed volatile, so it will be interesting to see how this year plays out.

There were a considerable amount of Lots that sold prior to the actual live auction this time, as well as a lot of high-value properties.

There were a couple of stand-out sales. Lot 19 was a two-story detached property on East Prescot Road, providing four self-contained flats with two separate front entrances and staff accommodation, which could be used as a studio flat. It had a guide price of £250,000 and, after an intense bidding war, sold for £52,000 more at £302,000.

When fully let, the potential rental income is approximately £35,000 per annum, so the property provides a fantastic investment opportunity.

Another Lot that gained a considerable amount of interest was in the heart of the City Centre. Lot 28 was a converted two bedroom terraced house which is currently being utilised as a short term AirBnB let for £4,000 a month. It had a guide price of £255,000 but sold for £275,000; £20,000 over its guide.

Cathy Holt, Associate Director of Sutton Kersh Auctions said:

“With the changes in interest and mortgage rates last month its clear people are feeling more confident to go back into property investments for both resale, occupational & investment purposes. We expect this to continue throughout the year.”

Next auction is the 4th April.