Auction | Auctionhouse | North West | 60 Lots

[motch]

thats quite a drop

[M21er]

Lot 59 ( Guide Price: £10,000 - £20,000 ) From: AuctionHouse Manchester Auction 2:00 PM, Thursday 26 April 2012

Type: Residential Investments

Address: Flat 2, 30 Wyresdale Road, Heaton, Bolton, Lancashire, BL1 4DN

Catalogue: Auction Catalogue Link

The description from the AuctionHouse Manchester website is: Communal entrance hall, kitchen, bedroom at mezzanine level with balustrades overlooking lounge area plus bathroom. Current seller wishes to remain in the property as a tenant on an AST basis at £76 pw. © AuctionHouse Manchester Auctions

Map: Google Maps Link

Last Sold Price: £14,500 on 30 April 2010

Auction Result: Sold for £18,000

Today's auction price results in a Profit of £3,500 ( 24.1% ) since purchase on 30 April 2010.

( Not taking into account Stamp Duty, Legal Fees and any Estate Agency fees )

M21er

Any inaccuracies, errors or suggestions, please PM me - To see this result on your Twitter feed: Follow @M21er

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[M21er]

Lot 60 ( Guide Price: £40,000 - £55,000 ) From: AuctionHouse Manchester Auction 2:00 PM, Thursday 26 April 2012

Type: Residential for improvement

Address: 9 Marguerita Road, Clayton Bridge, Manchester, Lancashire, M40 1UF

Catalogue: Auction Catalogue Link

The description from the AuctionHouse Manchester website is: A spacious four bedroomed detached property situated within Clayton Bridge. Briefly comprising entrance hall, lounge, kitchen, four bedrooms, bathroom, garage and large garden. The property requires a total refurbishment and therefore would be an ideal project for a builder. © AuctionHouse Manchester Auctions

Map: Google Maps Link

Last Sold Price: No data found for this property - Click here to search

Auction Result: Sold for £62,500

It is not possible to calculate the profit / loss upon sale as Last Sale Price is unknown.

M21er

Any inaccuracies, errors or suggestions, please PM me - To see this result on your Twitter feed: Follow @M21er

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[M21er]

Lot 19 ( Guide Price: £65,000 - £75,000 ) From: AuctionHouse Manchester Auction 2:00 PM, Thursday 26 April 2012

Type: Residential

Address: 34 Shepherd Street, Royton, Oldham, Lancashire, OL2 5PB

Catalogue: Auction Catalogue Link

The description from the AuctionHouse Manchester website is: A beautifully presented modern second floor, 2 bedroomed apartment, which is situated in a purpose built block close to Royton’s centre, well regarded amenities, as well as the North West motorway network. The property comprises security entrance and communal entrance hall, private entrance hall, lounge, kitchen/diner, 2 bedrooms, modern bathroom w.c. and benefits from a gas fired heating and double glazed windows as well as an intruder alarm system. One parking space is allocated to this within this secure, gated community. © AuctionHouse Manchester Auctions

Map: Google Maps Link

Last Sold Price: No data found for this property - Click here to search

Auction Result: Unsold ( Highest Bid was: £69,000 )

It is not possible to calculate the profit / loss upon sale as Last Sale Price is unknown.

M21er

Any inaccuracies, errors or suggestions, please PM me - To see this result on your Twitter feed: Follow @M21er

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[M21er]

Summary of Results

I have now summarised the results for today's auction.

In terms of the numbers of properties where we have direct comparisons with previous sales, this auction is better than earlier ones, in that we have Last Sales Prices for 23 of the 60 lots. Of these 23 lots, two were Sold Prior so we have 21 lots through the auction today.

I think it's fair to say that a lot these properties were not in the most desirable areas - These areas appear to be the types of areas within the North West that are now showing some large drops from 2005 - 2008 prices. From my own experience ( of parts of Manchester ), the less desirable areas were massively bid up from 2000 onwards from out of area BTLs.

In order to be confident of selling for substantially higher than prchase price, the purchase needs to be made prior to 2001 - 2003.

M21er

Summary ( Includes both Sold and Unsold Lots ) From: AuctionHouse Manchester Auction 2:00PM, Thursday 26 April 2012

Biggest Winners ( £ )

1 Lot 44 53 High Road, Halton, Lancaster, Lancashire, LA2 6PP £60,500 142.35% ( Result: Unsold £103,000, Purchased for £42,500 on 6 July 1998 )

2 Lot 37 489 Manchester Road, Hollinwood, Oldham, Lancashire, OL8 3RB £57,250 251.65% ( Result: Sold £80,000, Purchased for £22,750 on 8 July 1999 )

3 Lot 15 6 Gainsborough Drive, Rochdale, Lancashire, OL11 2QT £29,690 207.48% ( Result: Unsold £44,000, Purchased for £14,310 on 3 December 2001 )

4 Lot 9 25 Gower Street, Oldham, Lancashire, OL1 3UB £23,442 89.96% ( Result: Unsold £49,500, Purchased for £26,058 on 21 January 2000 )

5 Lot 25 42 Hertford Road, Blackley, Manchester, Lancashire, M9 8BW £23,000 191.67% ( Result: Sold £35,000, Purchased for £12,000 on 7 November 2000 )

6 Lot 41 22 Quail Street, Oldham, Lancashire, OL4 5HD £15,250 39.35% ( Result: Unsold £54,000, Purchased for £38,750 on 13 August 2003 )

7 Lot 59 Flat 2, 30 Wyresdale Road, Heaton, Bolton, Lancashire, BL1 4DN £3,500 24.14% ( Result: Sold £18,000, Purchased for £14,500 on 30 April 2010 )

8 Lot 8 Flat 7 Rothwell Lodge, Grange Avenue, Ribbleton, Preston, Lancashire, PR2 6PF £1,800 13.64% ( Result: Sold £15,000, Purchased for £13,200 on 21 March 2003 )

9 Lot 12 414 Cog Lane, Burnley, Lancashire, BB11 5JP £50 0.20% ( Result: Sold £25,000, Purchased for £24,950 on 6 December 2002 )

Biggest Winners ( % )

1 Lot 37 489 Manchester Road, Hollinwood, Oldham, Lancashire, OL8 3RB £57,250 251.65% ( Result: Sold £80,000, Purchased for £22,750 on 8 July 1999 )

2 Lot 15 6 Gainsborough Drive, Rochdale, Lancashire, OL11 2QT £29,690 207.48% ( Result: Unsold £44,000, Purchased for £14,310 on 3 December 2001 )

3 Lot 25 42 Hertford Road, Blackley, Manchester, Lancashire, M9 8BW £23,000 191.67% ( Result: Sold £35,000, Purchased for £12,000 on 7 November 2000 )

4 Lot 44 53 High Road, Halton, Lancaster, Lancashire, LA2 6PP £60,500 142.35% ( Result: Unsold £103,000, Purchased for £42,500 on 6 July 1998 )

5 Lot 9 25 Gower Street, Oldham, Lancashire, OL1 3UB £23,442 89.96% ( Result: Unsold £49,500, Purchased for £26,058 on 21 January 2000 )

6 Lot 41 22 Quail Street, Oldham, Lancashire, OL4 5HD £15,250 39.35% ( Result: Unsold £54,000, Purchased for £38,750 on 13 August 2003 )

7 Lot 59 Flat 2, 30 Wyresdale Road, Heaton, Bolton, Lancashire, BL1 4DN £3,500 24.14% ( Result: Sold £18,000, Purchased for £14,500 on 30 April 2010 )

8 Lot 8 Flat 7 Rothwell Lodge, Grange Avenue, Ribbleton, Preston, Lancashire, PR2 6PF £1,800 13.64% ( Result: Sold £15,000, Purchased for £13,200 on 21 March 2003 )

9 Lot 12 414 Cog Lane, Burnley, Lancashire, BB11 5JP £50 0.20% ( Result: Sold £25,000, Purchased for £24,950 on 6 December 2002 )

Biggest Losers ( £ )

1 Lot 35 95 Market Street, Shawforth, Rochdale, Lancashire, OL12 8ND £81,000 49.09% ( Result: Unsold £84,000, Purchased for £165,000 on 10 June 2005 )

2 Lot 36 352 Leigh Road, Hindley Green, Wigan, Lancashire, WN2 4XL £69,000 59.48% ( Result: Sold £47,000, Purchased for £116,000 on 15 June 2007 )

3 Lot 57 2B Chapel Street, Adlington, Chorley, Lancashire, PR7 4JL £55,000 50.93% ( Result: Sold £53,000, Purchased for £108,000 on 19 September 2007 )

4 Lot 17 30 Tinningham Close, Openshaw, Manchester, Lancashire, M11 1NB £44,000 50.00% ( Result: Unsold £44,000, Purchased for £88,000 on 28 March 2007 )

5 Lot 53 2 Stansfield Street, Darwen, Lancashire, BB3 2NR £40,000 59.70% ( Result: Sold £27,000, Purchased for £67,000 on 1 September 2005 )

6 Lot 29 6 Windle Avenue, Crumpsall, Manchester, Lancashire, M8 4NY £37,000 38.95% ( Result: Unsold £58,000, Purchased for £95,000 on 19 February 2008 )

7 Lot 38 5 Ivy Grove, Farnworth, Bolton, Lancashire, BL4 0BL £27,500 33.95% ( Result: Sold £53,500, Purchased for £81,000 on 2 March 2006 )

8 Lot 6 7 Hallwell Street, Burnley, Lancashire, BB10 3AH £26,000 65.00% ( Result: Unsold £14,000, Purchased for £40,000 on 18 January 2008 )

9 Lot 4 26 Hawley Street, Colne, Lancashire, BB8 8AF £16,950 33.93% ( Result: Sold £33,000, Purchased for £49,950 on 9 July 2004 )

10 Lot 14 99 Beatrice Street, Bootle, Merseyside, L20 2EG £11,500 25.00% ( Result: Sold £34,500, Purchased for £46,000 on 9 August 2005 )

11 Lot 22 47 Albion Street, Burnley, Lancashire, BB11 4QD £8,500 37.78% ( Result: Unsold £14,000, Purchased for £22,500 on 21 October 2010 )

12 Lot 24 84 Cemetery Road, Preston, Lancashire, PR1 5UT £6,000 13.04% ( Result: Sold £40,000, Purchased for £46,000 on 21 October 2010 )

Biggest Losers ( % )

1 Lot 6 7 Hallwell Street, Burnley, Lancashire, BB10 3AH £26,000 65.00% ( Result: Unsold £14,000, Purchased for £40,000 on 18 January 2008 )

2 Lot 53 2 Stansfield Street, Darwen, Lancashire, BB3 2NR £40,000 59.70% ( Result: Sold £27,000, Purchased for £67,000 on 1 September 2005 )

3 Lot 36 352 Leigh Road, Hindley Green, Wigan, Lancashire, WN2 4XL £69,000 59.48% ( Result: Sold £47,000, Purchased for £116,000 on 15 June 2007 )

4 Lot 57 2B Chapel Street, Adlington, Chorley, Lancashire, PR7 4JL £55,000 50.93% ( Result: Sold £53,000, Purchased for £108,000 on 19 September 2007 )

5 Lot 17 30 Tinningham Close, Openshaw, Manchester, Lancashire, M11 1NB £44,000 50.00% ( Result: Unsold £44,000, Purchased for £88,000 on 28 March 2007 )

6 Lot 35 95 Market Street, Shawforth, Rochdale, Lancashire, OL12 8ND £81,000 49.09% ( Result: Unsold £84,000, Purchased for £165,000 on 10 June 2005 )

7 Lot 29 6 Windle Avenue, Crumpsall, Manchester, Lancashire, M8 4NY £37,000 38.95% ( Result: Unsold £58,000, Purchased for £95,000 on 19 February 2008 )

8 Lot 22 47 Albion Street, Burnley, Lancashire, BB11 4QD £8,500 37.78% ( Result: Unsold £14,000, Purchased for £22,500 on 21 October 2010 )

9 Lot 38 5 Ivy Grove, Farnworth, Bolton, Lancashire, BL4 0BL £27,500 33.95% ( Result: Sold £53,500, Purchased for £81,000 on 2 March 2006 )

10 Lot 4 26 Hawley Street, Colne, Lancashire, BB8 8AF £16,950 33.93% ( Result: Sold £33,000, Purchased for £49,950 on 9 July 2004 )

11 Lot 14 99 Beatrice Street, Bootle, Merseyside, L20 2EG £11,500 25.00% ( Result: Sold £34,500, Purchased for £46,000 on 9 August 2005 )

12 Lot 24 84 Cemetery Road, Preston, Lancashire, PR1 5UT £6,000 13.04% ( Result: Sold £40,000, Purchased for £46,000 on 21 October 2010 )

M21er

Note 1 The above Summary reflects the position at the close of the auction. Lots may subsequently have been sold which will not be reflected in the above Summary.

Any inaccuracies, errors or suggestions, please PM me

Edited April 26, 2012 by M21er

[M21er]

I DO need to do some about the formatting of the Summary Report!

M21er

[ticket2ride]

Summary of Results

I have now summarised the results for today's auction.

In terms of the numbers of properties where we have direct comparisons with previous sales, this auction is better than earlier ones, in that we have Last Sales Prices for 23 of the 60 lots. Of these 23 lots, two were Sold Prior so we have 21 lots through the auction today.

I think it's fair to say that a lot these properties were not in the most desirable areas - These areas appear to be the types of areas within the North West that are now showing some large drops from 2005 - 2008 prices. From my own experience ( of parts of Manchester ), the less desirable areas were massively bid up from 2000 onwards from out of area BTLs.

In order to be confident of selling for substantially higher than prchase price, the purchase needs to be made prior to 2001 - 2003.

M21er

Seeing these falls, I cant help thinking that north of half a million for a 3 bed terrace in parts of SE15/SE22 is looking bubbly too. I suspect a lot (perhaps the majority) is owner occupied though. 20-30% off these kind of prices would be painful.

Edited April 26, 2012 by ticket2ride

[man o' the year]

Thanks again. Great work.

[NorthamptonBear]

Thanks again. Great work.

Fantastic work. Encouraging, looking forward to some more this year!

[moonriver]

Thanks for your excellent work on this thread again M21er.

Most interesting.

And thanks to GBdamo for input too.

[M21er]

Mortimer Street Oldham one went for 86K in 2008 , Ave. At 2007 peak was 65K

2 Ridge Road Burnley, no match – 4 went for 65K in 2004 but now fire damaged.

Thanks for the positive feedback again.

I also agree with Thanks for GBDamo for prices of similar houses where I couldn't find an exact match. It's certainly helps make the thread if it's a team effort rather than just me!

I'm hoping to do the Edward Mellor auction next week which is another Manchester based ( Seems to be mainly East Manchester & Burnley! ) auction with similar types of houses to today's auction.

Edward Mellor May 2012 Auction Catalogue for a preview

M21er

[awaytogo]

Summary of Results

I have now summarised the results for today's auction.

In terms of the numbers of properties where we have direct comparisons with previous sales, this auction is better than earlier ones, in that we have Last Sales Prices for 23 of the 60 lots. Of these 23 lots, two were Sold Prior so we have 21 lots through the auction today.

I think it's fair to say that a lot these properties were not in the most desirable areas - These areas appear to be the types of areas within the North West that are now showing some large drops from 2005 - 2008 prices. From my own experience ( of parts of Manchester ), the less desirable areas were massively bid up from 2000 onwards from out of area BTLs.

In order to be confident of selling for substantially higher than prchase price, the purchase needs to be made prior to 2001 - 2003.

M21er

----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Fantastic work M21er. comparing prices there were a lot of falls in the auction. Thanks again

also thanks to GBdamo for the follow up.

Edited April 27, 2012 by awaytogo

[homeless]

fantastic amount of work youve put in M21er, many thx for the effort.

lancashire is in a right downward spiral the now. i think its safe to say as things stand the now nw england is the epicentre of the crash, prices been dropping for at least 3 years now.

others are starting to make momentum and will join them soon.

[Democorruptcy]

Thanks for the positive feedback again.

Cracking effort well done.

I don't know if this was mentioned before re the summary report but should you include an inflation adjustment on the winnings? The percentage returns from properties bought in the 90's seem a bit misleading. They could have made more with the money in the bank. They may have saved on rent but does the mortgage interest and fees perhaps cancel that out?

[M21er]

Cracking effort well done.

I don't know if this was mentioned before re the summary report but should you include an inflation adjustment on the winnings? The percentage returns from properties bought in the 90's seem a bit misleading. They could have made more with the money in the bank. They may have saved on rent but does the mortgage interest and fees perhaps cancel that out?

Hi Democorruptcy

That's a good suggestion - It does make sense to adjust the original purchase price for inflation in the intervening period.

A quick scan of ONS indicates that the CHAW series of RPI ( All Items ) is probably most appropriate. I'll see if I can do something.

M21er

( Hat Tip: This was also suggested to me in a PM by Roger196 back in March but I haven't got round to implementing it )

M21er

Edited April 27, 2012 by M21er

[M21er]

have to say I prefer nominal prices.inflation hits people differently.

ZB

I would still include nominal for every lot as now

I'm thinking I would also include an inflation-adjusted purchase price for those purchases earlier than say 2005?

Looking at the yearly average index from RPI All Items, the price level has increased by ~60% since 1995

1995 149.1 57.75%

1996 152.7 54.03%

1997 157.5 49.33%

1998 162.9 44.38%

1999 165.4 42.20%

2000 170.3 38.11%

2001 173.3 35.72%

2002 176.2 33.48%

2003 181.3 29.73%

2004 186.7 25.98%

2005 192.0 22.50%

2006 198.1 18.73%

2007 206.6 13.84%

2008 214.8 9.50%

2009 213.7 10.06%

2010 223.6 5.19%

2011 235.2 0.00%

Once setup, I can easily include lots of analysis about each auction result - I need to be careful not to include too much information which detracts from the core result - A profit or loss in actual cash terms.

M21er

Edit: Grammar & Spelling etc

Edited April 28, 2012 by M21er

[Redcellar]

Excellent job thank you.

I actually read it all which is quite amazing for me and showed how engrossed I was

NW seems to be having lots of 50% reductions is what I can see, well at least for the 'average' or common properties (terraces etc). The highly desirable properties keep their value better of course.

Also noted the unsolds even where the guide prices were met, seems odd they had a reserve greater than guide price. Why on earth would that happen?