More than £16.6m raised at property auction

Bond Wolfe’s first auction of the year on Thursday, February 9 saw a success rate of 90 per cent as 131 lots were sold from a total of 146.

A three-bedroomed, semi-detached house that needed modernisation throughout at 50 Shepherds Brook Road in Stourbridge was sold for £142,000, from a guide price of £89,000 and a freehold, two-storey commercial property that could be an investment or a redevelopment opportunity at 165-173 Halesowen Road, Old Hill, in Cradley Heath, was sold for £430,000, from a guide price of £275,000.

Gurpreet Bassi, chief executive of Bond Wolfe, said: “We are delighted to have started 2023 with the continuation of our market-leading success in the auctions market.

“Despite rising interest rates in an economy that is close to recession, we are continuing to see a strong demand for all types of properties, with impressive prices gained from bidders.”

The number of people attracted to Bond Wolfe’s auctions continued to increase, with 618,371 views of website pages, 165,005 video tours watched, 38,426 legal documents downloaded and 23,790 people watching the auction live.

Bond Wolfe’s next auction will start at 9am on Thursday, March 30 and will again be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.

Mr Bassi added: “With continued buyer interest for properties across the UK, our March auction provides a fantastic opportunity to people to sell their properties this spring.”