Black Country house prices continue to rise, which is bad news for bidders but good news for Bond Wolfe Auctions.
Average house prices in the area start at £150,000, but there are plenty of homes listed for a fraction of that at the next Villa Park auction. They include a one-bedroomed, floor maisonette in Tipton, with a guide of £30,000+. Over in Wednesfield, a two-bed semi (pictured) at 114 Blackhalve Lane has a guide price of £24 – 29,000, while in Bilston a semi at 7 School Drive’s guide is £29 –£34,000.
Gurpreet Bassi, Chief Executive of Bond Wolfe Auctions, said, “Lots like these show it is still possible to pick up good quality homes at our auctions at prices well below the current market value. It is why our events are proving increasingly popular, both with young people looking for a first home and canny investors with a sharp eye for an excellent investment.
“Many of these properties will require some degree of modernisation work, but still offer astonishing value for money. And there are plenty of opportunities for budding property entrepreneurs.”
Bond Wolfe Auctions has already offered 490 lots since launching in January this year, including properties across the East and West Midlands and as far afield as Wales and Scotland.
The first four auctions have raised £55 million in sales with an average success rate of 85.5% against the national average of 72% – making it the most successful auctioneers in the Midlands this year.