Written by: Adrian Little on 1st October 2024
In the face of this week’s news [from Nationwide building society] that UK house prices are increasing at their fastest annual rate for nearly two years, auction houses Pugh and Mark Jenkinson, both part of property group Eddisons, have a record number of residential properties in South Yorkshire due to feature in their combined online auction this month, with guide prices of under £100,000 and as low as £35,000.
Pugh and Mark Jenkinson, which together form one of the largest auctioneers of property and land across the north, have 10 homes up for auction in South Yorkshire with guide (or reserve) prices of £90,000 and below.
The firms’ lowest priced property is a three-bedroom, three-storey, terraced house on York Street, in Mexborough, which, while in need of “general refurbishment works,” according to auctioneers, has, double glazing, gas central eating and an enclosed back garden. The house is within walking distance of Mexborough town centre and within easy reach of Doncaster and Sheffield.
In Doncaster, a £50,000 guide-priced property with three bedrooms is up for auction. Currently fully let to tenants and producing £11,000 a year in rental income, the terraced house is “in good order” say auctioneers, with a new boiler and double glazing. The property is within walking distance of the city centre and its bus and train stations.
In Sheffield, depending on bids submitted on the day of the auction, £52,000 could be enough to purchase a “good size” two-bedroom end of terrace property with large, fenced, front and back gardens. The house needs fully modernising and refurbishing. Located on Boundary Road, it is a mile from the city centre and close to Sky Edge playing fields and Whybourne and Emmaus primary schools.
With a guide price of £57,000, Pugh and Mark Jenkinson also have an end-of-terrace house in a quiet cul de sac close to Rotherham town centre. Auctioneers say although the property needs some renovation work, it does have attractive bay windows, double glazing, as well gas central heating and an enclosed rear garden.
All four properties, and a further six homes with guide prices of under £100,000 will all appear in the next combined online auction to be held by the two firms on 16 October at www.pugh-auctions.com
Adrian Little, a director at Mark Jenkinson, said: “Anyone considering buying at auction needs to do their homework and ensure they have enough funds to cover any work that might need to be done on the property as well as for their maximum bid.
“Nevertheless, buying a home more cheaply at auction is a realistic prospect and one that has enabled many people to buy their own home when they otherwise may not have been able to afford to. As house prices across the country rise more rapidly than ever, auctions can provide a strategic route to owning a home at an affordable price, whether for first-time buyers or for anyone else, and these properties in South Yorkshire, all included in this month’s online sale, are a great example.”
Written by: Adrian Little on 1st October 2024
Over the last 40 years Adrian has been involved in the sale by auction of over 10,000 properties in the Yorkshire and Humber region, ranging from small sites and ground rents to large industrial estates and residential investments. He has been most fortunate to have sold many landmark buildings throughout the region and is particularly interested in properties that require modernisation, restoration or redevelopment.
Having spent many hours on the rostrum at Bramall Lane, he saw the incredibly successful transition to online auctions seeing some £100m of residential, commercial, agricultural and industrial lots being sold for private, corporate and local authority clients. In March 2023, he joined Eddisons and Pugh & Co to forward this success and continue to offer personal service with a larger national presence .
