Strong results for property auction - commercial mortgages

13 September 2007

The first property auction of the summer to be held by Sutton Kersh has seen strong interest and a wide variety of properties being sold, it has been revealed.

The firm''s auction saw both residential and commercial holdings bought, with landlords with commercial mortgages likely to be among the interested parties.

Total receipts amounted to almost £3.8 million, the Liverpool Echo reports, with the proportion of properties sold in excess of results achieved by rival firms in other parts of the country.

"Most stories about property recently have been based around interest rate rises, their toll on the market and the credit squeeze and while achieving 60 per cent sold is less than our outstanding 80 per cent average figure for 2007, the result is somewhat indicative of the market at this time of year," noted director James Kersh.

"We''re also finding that there are more long- term investors returning to the Liverpool market than ever before along with a new influx from Ireland," Mr Kersh added.

The interest in Liverpool property comes as the prime London office market continues to attract the bulk of interest from investors.