Smith & Sons sees improved auction interest

Wirral auctioneer Smith & Sons generated sales of £1.21m at its February auction, selling 16 of 24 lots at the sale held in the Village Hotel in Brombrough.

Chris Johnson, managing partner at Smith & Sons, said: "We were delighted to see the number of people who attended the February auction. This was a huge increase since the November sale of 2009 and gave a strong indication of a growing return in interest to the market."

Lots included a broad mix of residential and commercial refurbishment opportunities as well as land and vacant residential premises. Land in Wallasey sold at three times the guide price, a terraced house in Wallasey sold for £74,000, almost double the guide price and a semi-detached home in Irby reached a sale of 40% more than the guide price of £80,000.

Johnson continued: "There was a greater interest in homes requiring upgrading and refurbishment works and commercial investment opportunities.

"Interest in the market is definitely moving up, however, the issue of lending is still preventing the market moving forward as quickly as it could."

Smith & Sons are now inviting entries for the April auction, which has a closing date of March 10.