Auction house sees investments boom

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The award winning brand Auction House in Lancashire says auction property sales in Greater Manchester, Merseyside and Lancashire are better than ever, as investors seem to be switching their attention away from the south east of England.

In its recent auction at Preston North End Football Club Tuesday 28 February, 90 per cent of properties listed were sold, raising more than £2.7m.

A total of 67 lots were sold from the 75 lots on offer with more lots likely to sell.

Auctioneer John Shellcross said, “There is increasing evidence that investors looking for buy-to-let properties at auction are choosing to spend their money in the north west of England.

“It makes far better economic sense as it is possible to get two or more properties in this area compared to just one in the south of the country – and with them more total rental yield for your investment.”

More than half of the properties sold by Auction House sold for above their guide price.

Mr Shellcross said: “These examples were typical of many lots in this auction attracting enthusiastic bidding; it was a busy sale with more than 300 people packed into the room.

“Most lots in the sale received bids and it shows why auctioning a property is such a good way forward for sellers.

There is no shortage of investors willing to buy at the moment and an auction is a definite route to a non conditional sale where the deal is done on the day.”

Entries are now being accepted for the next sale on April 26 at the Etihad Stadium, Manchester City FC. More at www.auctionhouse.uk.net.