Property auction sales of almost £3.8m suggest that Sheffield’s property market remains ‘in good health’ despite heightened uncertainty surrounding the recent Brexit vote.
Mark Jenkinson & Son raised £3.75m at its latest sale held at Sheffield United’s Bramall Lane with 30 of the 35 lots offered snapped up by properly investors – including three post-auction sales.
The outcome of the auction, which included the sales of an old people’s home and a public toilet, shows a “healthy state of affairs” in Sheffield’s property market, according to auctioneer and partner at Mark Jenkinson & Son, Adrian Little.
The highest price of the day was a £415,000 for an eight-flat complex in Steade Road, Nether Edge.
“I think [the sale] was a really positive example of what’s going on in the market,” said Little.
“It’s [the sales success rate] probably higher than it was at the peak of the market in 2006 and 2007. It’s a very strong overall level,” he added.
Mark Jenkinson & Son’s latest property auction success, which Little described as “a barometer to what’s going on in the wider market”, suggests that investors are continuing to turn to auction to acquire property because they are “confident” that it remains the best way to invest in bricks and mortar.