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Results for 27 January 2009
JANUARY SALES
We're in a recession. In case we should ever forget it there is a daily reminder by the media as the economy slides into ever deeper gloom. Recently, brave (careless?) talk of the early sight of “green shoots of recovery” brought heavy approbation to Baroness Vadera for gross insensitivity at such a difficult time. And yet despite all the constant bad news there is evidence that sections of the property market are producing a success level which, while by no means as exciting as 2007, is certainly better than was the case in much of 2008.
Local estate agents are reporting some increased activity and a few more offers. This is not cause for celebration, and it is a fragile improvement from a very low base, nevertheless it is an improvement.
The auction market shows clear evidence that all is not as bleak as might have been expected this midwinter. In Mark Jenkinson's January sale at Sheffield United's Bramall Lane ground there were good crowds for both morning and afternoon sessions with a success record of some 70%.
The morning session concentrated on out of town lots, with the usual South Yorkshire areas of Barnsley, Rotherham and Doncaster represented as well as the host city, together with lots further afield in Nottinghamshire and Lincoln.
A number of small terrace houses, both vacant and tenanted were offered during the morning, with prices generally centered around £50,000 or thereabouts, although building land at Middlewood Road, Sheffield with planning permission for twelve flats sold for an anticipated £190,000.
The much – publicised sale of a fishing pond to the rear of Ecclesfield Working Mens Club was finally staged. The lot sold for £64,000.
For the first time in a number of years a portfolio of regulated tenancy houses was on offer. These are unfurnished lettings with protected tenants, and rents around £50 / £55 per week. The morning sale produced prices at around £60,000, suggesting that buyers are more interested in eventual capital gain than a high revenue return on invested money. More of the same, but in Sheffield were offered in the afternoon session, the slightly higher prices obtained reflecting better locations rather than higher rental income.
A mixed commercial / residential investment property at Chesterfield Road, Sheffield sold for £165,000 to reflect a 9% gross yield on current income.
A modern bungalow, at Moorthorpe Way, Owlthorpe Sheffield sold for a respectable £125,000 but an older bungalow at Rochester Road, Lodge Moor, Sheffield failed to sell and is now available.
A full list of results is available fom the office or by going to www.markjenkinson.co.uk where information of past sales and future sale dates can also be seen.
Mark Jenkinson and Son now offer an e-mail catalogue service. By simply providing the office with some basic information including your e-mail address you can be certain to receive the link at the earliest possible opportunity. There is no charge and the e-mailed catalogue is often available earlier than paper copies.
The next sale will be held at Bramall Lane, Sheffield on 10th March with over thirty lots confirmed. The closing date is 30th January, so there is maybe just time for inclusion if you have disposal in mind.
As the major regional propery auctioneers Mark Jenkinson and Son produce a calendar of dates throughout the year providing ten sales during 2009 to enable sellers to programme their disposals. Adrian Little is the auction co-ordinator partner and he together with colleague Mark Renshaw is quite happy to discuss this exciting method of sale which whilst not reccession – proof, has been seen to be far more successful than other sale methods for the right property. Advice borne of many years experience in the regional property market is freely available, particularly if your interest, like ours is in “property with potential”
Paul Hough. Auctioneer partner. Mark Jenkinson and Son
The next
sale will be held at the Crucible Theatre on: 21/09/2010.
Catalogues are available either by personal call, or by annual subscription
at nominal cost.
Contact
Adrian Little at Mark Jenkinson and son without delay if you
want to know more about this exciting form of selling, which is
of course ideally suited to "property with potential"
 
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