Auction nets £1.5m to buck credit crunch

A PROPERTY auction in Sheffield indicated that there are still plenty of buyers, despite the credit crunch.

The Blundells auction saw deals worth more than 1.5m and results bucking the national trend.

More than 250 people turned out to see 76% of the lots sold, with subsequent sales increasing the figure to 81%.

Carol's Fashions on Abbeydale Road sold for 210,000, a two-bedroom cottage in Castleton sold for 155,000 and a four-bedroom terrace in Ecclesall sold for 148,000, which was significantly above the guide price.

Blundells director Andrew Winter said: "The latest figures available from the Essential Information Group at the time of the auction indicate that the percentage of lots sold across the UK is 55 per cent, so it puts Blundells Auction House well above average.

"We are bucking market trends and this success, a total of over 1.5 million of sales, proves there are still buyers out there who are happy to buy the right property at the right price, whether it's for owner-occupier or investment alike.

"Despite some of the doom and gloom around, there is still a strong interest in the market."

The next auction is at Sheffield Park Hotel, Meadowhead on November 25.

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