Sutton Kersh raises £20m from auction sales

Liverpool property agent Sutton Kersh said it has raised £20m at auctions this year.

It has held seven auctions which have sold 342 properties.

It ended its 2011 auction calendar by selling 41 of the 62 properties listed, raising £3.3m.

The firm said pre-auction activity was the highest it has been all year with 13 properties selling for more than £1m, including The Old Barn Pub in Anfield. A further 23 properties sold in the room and five went after the auction.

A former resource centre on Huyton Church Road, Huyton sold for £80,000 above its guide price at £201,000, and a grade II-listed house on Rodney St went for £326,000 – more than £100,000 over the guide price of £170,000 – £225,000.

Director James Kersh said: "We are extremely pleased with the results we have achieved this year. Amidst a very tough economic climate we have achieved a selling average that exceeds the national average and generated over £20m worth of sales.

"The atmosphere in the auction room at the final two sales was particularly encouraging with a great buzz amongst investors and competitive bidding.

"Whilst interest rates remain low, and there has been speculation that these historically low rates may remain for another three years, investors are capitalising on the many cheap deals currently available and are recognising the opportunities the property market offers for long term capital growth."

The final auction took place on December 8 at the Marriott Hotel in Liverpool city centre.

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