£1 asked for Hazel Grove bungalow

Among the lots likely to attract interest at Edward Mellor's next auction is this fire-damaged bungalow with generous garden and garage – offered for a quid.

Edward Mellor's auction director, Louise McDonald, said lots on the block with no reserve have been a feature of recent sales, sellers seemingly happy to get anything they can for their property.

The privately owned bungalow is offered despite not being inspected by the auctioneer as it is fire damaged and may be unsafe. The plot may be suitable for redevelopment subject to the necessary consents from Stockport Council.

The top of the market is also expanding, says McDonald, as the auction room evolves with the rest of the property world.

"Twelve months ago we probably wouldn't have been asked to auction a five bedroom bungalow with land in Strines, a detached bungalow on Chester Road near Woodford or a lovely detached family home on Bramhall Lane South in Bramhall," comments McDonald on several other lots in July's catalogue. "But this is representative of the changes we are seeing in the auction market."

There has been a shift in the profile of the auction vendor as regular selling routes prove to be more challenging. However, the core stock of tenanted and investment properties still accounts for a significant proportion of the market.

"There are plenty of people who make a living from property and they can only sit on their hands for so long. We are seeing people come back to the market who haven't been around for two or three years," continued McDonald.

The latest auction catalogue from Edward Mellor Auction is now online. The sale is due to take place at The Point, Lancashire County Cricket Ground, from 1pm on Tuesday 17 July.

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