Loveitts’ first auction of the year attracted bumper crowds and a high success rate, helping the firm to kick off 2018 with a bang.
Out of the 16 properties, 12 lots were sold, with the remaining four unsold properties forecasted to be sold as a considerable amount of interest was shown in each.
Bidding wars for the investment properties on offer resulted in two of the properties up for auction massively beating their guide price by £50,000 and over £20,000 respectively.
Highlights included a three-bed property on St. George’s Road, Stoke, which sold for £171,000 against a guide price of between £100,000 and £120,000, and a two-bed property in Common Way, Stoke Heath which sold for £106,000 from a guide price of between £70,000 and £80,000.
A historic parcel of land within the picturesque countryside village of Fillongley stood out as one of the most unique lots in the auction. The small sought-after piece of land within the village sold for £36,000 against a guide price of between £15,000 and £20,000.
Hot on the heels of its February auction, Loveitts is preparing for its next auction on March 22 which will again take place at the Village Urban Resort Hotel in Coventry.
Sally Smith, Loveitts director and auction manager was delighted with the attendance at their last auction, saying it was a ‘fantastic start to 2018’ having such a bumper crowd for the first auction of the year.
“Once again our sales rate is well above the national average which demonstrates the buoyancy of the auction marketplace within the Coventry and Warwickshire region as our auctions continue to find success year after year.”
She added: “Preparations are already well underway for our next auction on March 22nd, then closely followed by May 17th where we want to increase the range of fantastic amount of properties on offer and have more available up for grabs.”