Coastal properties proved clear winners in Network Auctions’ March sale with bidders battling it out to boost sold prices way beyond their anticipated guides.
Of particular interest was a one-bedroom flat in Callington, Cornwall (above) which attracted 72 bids from over 50 people, pushing the £20,000 guide price to a whopping £49,250. Fierce bidding was also seen on a four-bedroom property in need of modernisation located in Paignton, Devon which sold for £265,500 against a guide of £200,000- £225,000.
The Cornish love affair continued with a tenanted building in Newquay arranged as four flats, selling for £328,000 against a guide price of £310,000-£320,000.
Toby Limbrick, auctioneer, said, “We are seeing a huge interest in coastal properties as more people plan their holidays in Britain and investors look to boost their profitability by getting into the holiday let market.”
Network Auctions next online auction is 22 April.