Sutton Kersh has reported an impressive result from its May property auction, with just under £7 million worth of property sold as demand for vacant residential homes in Liverpool and surrounding areas continues to surge.
The Liverpool-based auction house saw intense bidding activity across multiple Lots, with properties consistently achieving well over their guide prices. The auction generated over £400,000 above reserve prices, a testament to the growing appetite from investors and homebuyers looking to capitalise on strong rental yields and refurbishment opportunities.
One of the standout moments was Lot 3, a property on Macdonald Street in Wavertree, which had a guide price of £65,000 and sold for £114,000 — a staggering £49,000 above its guide. In need of full modernisation, the property has a projected rental income of around £9,600 per year.
“Many buyers of vacant residential properties will carry out the works required on them, to then either rent out or sell on,” explained Cathy Holt, Associate Director at Sutton Kersh. “Many of the Lots offered had attractive potential rental incomes, which is a great source of income for many people these days, hence the attraction in property investments.”
Additional highlights from the auction included:
- Lot 9, a three-bedroom mid-terrace on Hall Street in Clock Face, St Helens, which sold for £126,000 after being listed at £80,000.
- Lot 16, a two-bedroom property on Primrose Street in L4, sold for £88,000, more than double its £40,000 guide. With full refurbishment, it offers a potential rental income of £10,200 per annum.
- Lot 30, a substantial five-bedroom, three-storey property on Woburn Hill in L13, went under the hammer for £238,000 after being listed at £190,000. In need of an upgrade, the property could be suitable for conversion into flats, subject to planning consent.
- Lot 55, a three-bedroom home on Greenhill Road in L18, attracted fierce bidding and sold for £186,000 — £46,000 over guide.
- The auction’s biggest success was a three-bed terraced house on Lyttelton Road in Aigburth, which had previously failed to sell through a local estate agent. It sold via Sutton Kersh’s auction for an eye-watering £80,000 above its previous asking price.
Sutton Kersh noted a recent trend of properties coming to auction after failing to sell through traditional estate agents, often due to tight vendor timeframes or failed surveys. The auction route is increasingly proving to be a successful alternative.
The next Sutton Kersh auction will take place on Wednesday 24th July.
