Sutton Kersh finishes year with ‘subdued’ auction

Sutton Kersh raised £1.8m and sold 23 of the 44 lots available at its final auction of the year at the Marriott Hotel Queen Square this month.

Thirteen of those sales completed outside the auction room prior to the sale. Sutton Kersh said the atmosphere in the room was 'subdued' although those sold did so for well in excess of their reserve prices. Beacon Hill House on Beaconsfield Road in Woolton was the opening lot of the day. Guided at £325,000, this substantial redevelopment opportunity attracted numerous underbidders and was eventually knocked down for £367,000.

Other standout lots included a vacant residential property on Stamford Drive located off Mather Avenue in L19. The three-bedroom semi-detached property was guided at £65,000 and sold for £84,000. Lot 38, a three-bedroom semi-detached house on Blackmoor Drive located just off East Prescott Road in L12 also attracted a flurry of bidding. With a guide price of £80,000 a bidding war resulted in it selling for £115,000.

Sutton Kersh held seven auctions in Liverpool in 2010 and sold over 370 lots for in excess of £20m, equating to £1m over the total reserve price.

James Kersh, director, said: "It has been a mixed year in the property market. There has been a shortage of quality auction lots and as a result our catalogues have been much smaller. A lack of finance continues to hamper activity and is slowing the speed of recovery. Investor presence has increased over the course of the year which is a positive sign. December is historically a quieter period in the housing market, so we are pleased with the result given the circumstances. I think the buoyant atmosphere at our September and October auctions is more indicative of where the market is, reflecting a stronger investor presence and an intent to buy."