SMITH AND SONS RAISE £1.78M AT LATEST AUCTION

Smith and Sons has realised £1.78 million in sales at its latest property auction.

The online auction included 29 lots, largely in Wirral, with several achieving sales far in excess of their guides.

Garages at Bidston Court, guided at £50,000 - £60,000 sold for £130,250, whilst land on Liscard Rd, the site of a former Scout Hut sold for £110,250 against a guide of £50-60,000. Properties with scope to develop and improve were popular as ever, securing good prices from investors looking to add to their portfolios.

Chris Johnson, Auctioneer at Smith and Sons commented: “This was a strong auction that resulted in a good final sales figure. Two stand out lots that achieved figures far beyond their guides were development opportunities in good locations, which indicates growth in that area of the property market.

“The rental market was strong during 2023, and there now seems to be more movement in buy to let properties with investors looking to strengthen their portfolios and achieve good yields with purchases of properties both needing improvements and already tenanted.

“The auction process is often a sound barometer for what is happening in the wider property market and offers an insight into current trends. This auction represents a positive start to 2024 and I believe that we will see further momentum built as the year evolves.”