Smith & Sons auction achieves 79% success

The Wirral auctioneer said it sold 19 of the 24 lots available at its last sale at the Village Hotel in Brombrough, which raised £1.2m in total.

Smith & Sons said modest houses in need of repair proved to be popular and properties left in probate were also sought after.

A vacant 3 bedroom bungalow at 6 Tideway in New Brighton sold for £120,000, while a vacant shop with ground floor accommodation located at 457 Borough Road in Birkenhead sold for £26,000.

Chris Johnson, Smith & Sons auctioneer, said: "This auction definitely represents an improvement on others this year, however, we still have a way to go before this market heads clearly towards a recovery.

"Whilst availability of support via banks is still a challenge, auction houses and the wider market must market their properties at realistic and obtainable prices. At auction, buyers are definitely looking for a certain type of property and it is up to us to recogise this and to recommend reasonable and manageable prices.

"We're optimistic that this trend will continue and we've already taken several lots already for the November auction."

Smith & Sons is now taking entries for its next auction on 29 November.