A standard ‘two up, two down’ terraced house in Nelson has just sold at auction for £37,000 against a guide price of just £10,000.
The house, on Percy Street, was boarded up and in need of significant refurbishment and has now commanded a price that would not have been achieved in a private transaction. No access was allowed for potential buyers prior to the auction but this did not hinder the bidding spirit as the house eventually sold for nearly four times its estimate.
Ian Bythell, said: “Many vendors overlook the idea of selling their property at auction but we would often recommend this route for certain properties. People are prepared to pay for their ideal home and that certainly showed here so auctions really shouldn’t be underestimated as a selling tool.
“The fact this property sold for such an amount is also a great indication of how Nelson as an area is on the up. £37,000 is heading some way towards the average for this street and considering the bidders weren’t able to see inside prior to the auction, along with the fact that it is clearly in need of refurbishment, this is a great sign for Nelson.”
Keen to shift the recent stigma imposed on the area, Nelson as a ‘Portas Pilot town’ is showing positive signs and if properties can secure higher sales prices, this could be reflective of the positive work that Pendle Borough Council and the recent injection of funds and advice from Mary Portas is achieving.
“We recently had a chat with the Pendle MP Andrew Stephenson for our magazine, Your Village Life, and he told us how both he and the council are working hard to improve the high streets, infrastructure and road network around Pendle. This will be fantastic for places like Nelson because they can become important commuter hubs for cities like Blackburn and Preston.”
The property on Percy Street was sold through Auction House, a national property and land auctioneer franchise run on a license basis by Auction House UK Limited. It was set up to enable any local estate agent or seller to auction their property nationwide. Confidence in the auction method of sale is growing, although it is still significantly less popular the traditional way of selling houses.