4th October 2017
Higher Manchester property values drive interest in auctions
The fast-growing values of Manchester properties is driving an increased interest in buying land, flats, houses and commercial building through auctions.
That’s the message from Andy Thompson, senior valuer at SDL Auctions North West, who are hosting their next property auction in Manchester on Thursday 12 October.
Mr Thompson was commenting after new figures from Hometrack revealed a sharp 6.92 per cent rise in house prices across Manchester in the last 12 months, with the average home now worth around £162,000.
Mr Thompson said: “The fact is property prices rise in a buoyant market and, with strong, competitive interest from would-be buyers, the seller can often achieve the best price for their property by selling in the auction room.”
“Auctions are considered a straightforward process with the turnaround in exchanging contracts often measured in days rather than the months it can take via traditional sales.
“It’s because of our quick, simple and professional service that we’re becoming a leading auction business in the north west, and are expecting our busiest day yet on 12 October.”
More than 30 lots are listed in SDL Auctions North West’s auction catalogue for the 12 October auction, and these include:
- A one-bedroomed property at 92 Baguley Crescent, just off Heywood Old Road near Heaton Park and Middleton town centre, which is already let out for £4,320 per annum. It has a guide price of £36,000+.
- A three bedroomed mid-terrace house at 22 Padstow Street, just north of the Etihad Stadium, currently producing a rental income of £7,140 per annum and with a *guide price of £60,000+.
- A 16th century, Grade II-listed detached property in Bolton called The Old Ale House at 1 Ainsworth Lane in Tonge Fold, which was built around 1580. This three bedroomed home comes with a guide price of £150,000+.
- A Car park space G41 next to London Gatwick Airport on Bonnetts Lane in Ifield, near Crawley, bringing in annual rent of £2,000 and with a guide price of £15,000 to £18,000+.
- A one bedroomed terraced bungalow by the seaside at 14 Cheviot Avenue in Thornton-Cleveleys, near Blackpool, with a guide price of just £40,000+.
Mr Thompson added: “We’re expecting strong interest in these and many of the other interesting properties we have from across the north west and beyond.”