Wirral auctioneer raises £1.1m in sales

Smith & Sons said it managed to sell 60% of the 20 lots available at its last auction held at the Village Hotel in Bromborough.

Chris Johnson, Smith & Sons auctioneer, said: "We were really pleased with the prices achieved on the lower price range, but it is noticeable that anything much over £100,000 is not as attractive to buyers due to the lack of finance available. Until the banks make moves to begin lending again at sensible levels, then sales will remain relatively low.

"We have, however, shown that houses in need of repair are best sold through the auction as higher prices are achieved than sale by private treaty, and in a quicker timescale due to the competitive atmosphere in the auction room."

Smith & Sons said properties that received the most interest were smaller houses in need of refurbishment, some of which sold for almost twice the guide price.

The auctioneer added that these proved to be of interest to first time buyers able to carry out repair and refurbishment works themselves, as well as investors looking to refurbish prior to letting or to sell on.

Houses being sold in Birkenhead and Wallasey by probate also attracted a high number of viewings, as did larger houses suitable for family occupation or conversion to flats.

Smith & Sons are now taking entries for their next auction in November.