WOBBLES? NOT IN MY AUCTION ROOM SAYS
SALLY SMITH OF LOVEITTS
Property Auction Sales Remain Buoyant
Interest is strong and sales are buoyant as the area’s
oldest estate agent and sole property auctioneer prepares for its latest
While some investors in London and the South East are
showing signs of nervousness about the property market that sentiment has not
spread to the West Midlands.
Sally Smith, Auctioneer and Director of Loveitts, said: “Investors
appear to have left any Brexit wobbles they feel at the door of our auction
room – we’re are busy as ever.
“Whether it is because property in this area provides a good
return on investment for landlords, or that people are excited about Coventry
becoming UK City of Culture 2021, there is no denying that the auction market
“We have had lots of interest over the past year and it is
certainly not abating. Rental yields here are easily exceeding those now
available in London and Investors are taking a long view when it comes to
At the firm’s last auction, in September, 28 properties,
ranging from a small parcel of land to family homes and an office, were sold
for a total of £2,511,500.
Many exceeded their guide prices – a collection of 14
garages off Moor Street, Coventry went under the hammer for £68,000, well above
the guide price of £45,000 to £55,000.
Investment properties were popular, with a terraced house in
Gulson Road, Stoke, guide price of £110,000 to £130,000, showing the trend by
With two vibrant and well-respected universities in the city
– Coventry University and Warwick University – demand for property to rent in
the city is high.
“Our next auction is already attracting a lot of interest
from buyers from the area and farther afield, with more than 20 lots up for
sale,” added Sally Smith.
“We have a very varied portfolio from parcels of land across Coventry and Warwickshire to a house subdivided into eight flats in Shakespeare’s home town of Stratford-on-Avon.”