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SarahBell

Edward Mellor Auctions

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"Yesterday's auction saw a welcome return to the activity of three years ago, with an overflowing room, quick-fire sales that made the afternoon fly, and netted sales of around 60%. Some properties sold for well above guide price - a three bedroom semi detached house in Droylsden guided at £65,000 achieved £90,000, our "No Reserve" property in Blackley achieved £72,000, and a Blackpool property guided at £40,000 sold for £55,000.... The BBC's Homes Under the Hammer certainly bagged themselves some great stories!"

http://www.edwardmellor.co.uk/content/Auction/Online_Catalogue_and_Results/

I did plan on watching it and making a note of what the reserves were but forgot. The catalogue is up still if anyone wants to go through it.

RESULTS – AUCTION 7TH SEPTEMBER 2010

LOT 1 1165 ROCHDALE ROAD BLACKLEY MANCHESTER SOLD AT £72,000

LOT 2 1064 CHESTER ROAD STRETFORD MANCHESTER NOT OFFERED

LOT 3 18 FAIRFIELD AVENUE DROYLSDEN MANCHESTER SOLD AT £90,000

LOT 4 FLAT 2 HEALD GREEN HOUSE IRVIN DRIVE MOSS NOOK MANCHESTER SOLD AT £62,000

LOT 5 20 NUNEHAM AVENUE WITHINGTON MANCHESTER SOLD AT £140,000

LOT 6 2 PARK AVENUE LEVENSHULME MANCHESTER AVAILABLE AT £160,000

LOT 7 11 BRYNFORD AVENUE BLACKLEY MANCHESTER SOLD AT £56,000

LOT 8 280 BRIDGEWATER VIEW ANSON STREET ECCLES MANCHESTER AVAILABLE AT £56,000

LOT 9 10 AUSTIN GROVE BURNAGE MANCHESTER NOT OFFERED

LOT 10 44 CONSTABLE STREET ABBEY HEY MANCHESTER AVAILABLE AT £65,000

LOT 11 2 WAVERTREE ROAD BLACKLEY MANCHESTER SOLD PRIOR

LOT 12 FLAT 12 OLD HALL COURT OLD HALL ROAD SALE MANCHESTER SOLD AT £68,000

LOT 13 67 LE GENDRE STREET BOLTON LANCASHIRE NOT OFFERED

LOT 14 54 UNION ROAD BOLTON LANCASHIRE SOLD AT £46,500

LOT 15 230 PARK LANE POYNTON STOCKPORT SOLD AT £120,000

LOT 16 9 BRAGENHAM STREET GORTON MANCHESTER SOLD AT £46,000

LOT 17 3 WELBECK STREET GORTON MANCHESTER AVAILABLE AT £60,000

LOT 18 14 HURSTBOURNE AVENUE CLAYTON MANCHESTER NOT OFFERED

LOT 19 123 HOPE STREET DUKINFIELD CHESHIRE SOLD PRIOR

LOT 20 74 KENYON STREET ABBEY HEY MANCHESTER SOLD AT £39,500

LOT 21 190 MANCHESTER ROAD EAST LITTLE HULTON MANCHESTER SOLD AT £43,000

LOT 22 100 LIVERPOOL ROAD IRLAM MANCHESTER SOLD PRIOR

LOT 23 109 POWELL AVENUE MARTON BLACKPOOL LANCASHIRE SOLD AT £55,000

LOT 24 6 DARESBURY ROAD CHORLTON MANCHESTER AVAILABLE AT £200,000

LOT 25 20 FROGHALL LANE WARRINGTON CHESHIRE NOT OFFERED

LOT 26 28 STOVELL ROAD MOSTON MANCHESTER SOLD AT £45,500

LOT 27 CHINLEY HEAD FARM HAYFIELD ROAD CHINLEY HIGH PEAK DERBYSHIRE NOT OFFERED

LOT 28 FLAT 1 PARK VIEW 90/98 ROCHDALE ROAD ROYTON OLDHAM LANCASHIRE SOLD AT £47,000

LOT 29 COLLIERS ARMS 70 WATER STREET RADCLIFFE MANCHESTER AVAILABLE AT £75,000

LOT 30 28 LAKIN STREET MOSTON MANCHESTER AVAILABLE AT £50,000

LOT 31 7 STAFFORD ROAD ELLESMERE PARK ECCLES MANCHESTER SOLD AT £200,000

LOT 32 14 WEST STREET HOOLE CHESTER AVAILABLE AT £99,000

LOT 33 24 GEORGE LANE BREDBURY STOCKPORT AVAILABLE AT £130,000

LOT 34 28 CORONATION STREET OPENSHAW MANCHESTER AVAILABLE AT £60,000

LOT 35 20 AUDREY STREET MOSTON MANCHESTER SOLD AT £50,000

LOT 36 41 GRANGE STREET BURNLEY LANCASHIRE AVAILABLE AT £17,000

LOT 37 14 MIDLOTHIAN STREET CLAYTON MANCHESTER NOT OFFERED

LOT 38 64 NOOK LANE ASHTON UNDER LYNE LANCASHIRE SOLD AT £85,000

LOT 39 5 JOBLING STREET BESWICK MANCHESTER SOLD AT £52,000

LOT 40 40 BARTLETT STREET OPENSHAW MANCHESTER AVAILABLE AT £35,000

LOT 41 746 HYDE ROAD GORTON MANCHESTER AVAILABLE AT £90,000

LOT 42 813 HOLLINS ROAD OLDHAM LANCASHIRE AVAILABLE AT £52,500

LOT 43 77 CHELTENHAM ROAD CHEADLE HEATH STOCKPORT SOLD AT £110,000

LOT 44 26 DUMBARTON CLOSE REDDISH STOCKPORT AVAILABLE AT £85,000

LOT 45 53 HIGHER LANE WHITEFIELD MANCHESTER AVAILABLE AT £140,000

LOT 46 1 KENYON STREET ABBEY HEY MANCHESTER SOLD AT £47,500

LOT 47 3 BEARD ROAD GORTON MANCHESTER AVAILABLE AT £58,000

LOT 48 8 PORTLAND PLACE MOTTRAM ROAD STALYBRIDGE AVAILABLE AT £250,000

LOT 49 3 TRAM STREET PLATT BRIDGE WIGAN LANCASHIRE SOLD AT £40,000

LOT 50 29 BILLINGE ROAD PEMBERTON WIGAN LANCASHIRE SOLD AT £37,000

LOT 51 30 SOUTH STREET GREAT LEVER BOLTON LANCASHIRE AVAILABLE AT £40,000

LOT 52 4 ADSWOOD LANE EAST CALE GREEN STOCKPORT AVAILABLE AT £100,000

LOT 53 2 ELLESMERE STREET LITTLE HULTON MANCHESTER SOLD AT £31,000

LOT 54 25 GAINSBOROUGH STREET SALFORD MANCHESTER SOLD PRIOR

LOT 55 55 BROOM LANE LEVENSHULME MANCHESTER AVAILABLE AT £48,000

LOT 56 57 BROOM LANE LEVENSHULME MANCHESTER AVAILABLE AT £48,000

LOT 57 79 GILL STREET MOSTON MANCHESTER SOLD AT £60,000

LOT 58 1 LILY LANE MOSTON MANCHESTER SOLD AT £60,000

LOT 59 23 WELLFIELD ROAD BAGULEY MANCHESTER NOT OFFERED

LOT 60 280 LONDON ROAD HAZEL GROVE STOCKPORT NOT OFFERED

LOT 61 39 JENNINGS STREET EDGELEY STOCKPORT SOLD AT £73,000

LOT 62 21 BROOKSIDE COURT SLADE LANE LEVENSHULME MANCHESTER NOT OFFERED

LOT 63 54 CROSSLEY ROAD BURNAGE MANCHESTER AVAILABLE AT £130,000

LOT 64 74 FOX STREET EDGELEY STOCKPORT SOLD AT £100,000

LOT 65 101 CRAIG ROAD GORTON MANCHESTER AVAILABLE AT £55,000

LOT 66 42 SANDRINGHAM ROAD BREDBURY STOCKPORT SOLD AT £99,000

LOT 67 27 GEORGE STREET DENTON MANCHESTER SOLD AT £61,500

LOT 68 5 CHILTERN GARDENS SALE MANCHESTER AVAILABLE AT £90,000

LOT 69 83 QUEENS ROAD OLDHAM LANCASHIRE SOLD AT £390,000

LOT 70 32 ROBERT STREET BARROW IN FURNESS AVAILABLE AT £45,000

LOT 71 11 EARLE STREET BARROW IN FURNESS AVAILABLE AT £52,500

LOT 72 14 ARNSIDE STREET BARROW IN FURNESS AVAILABLE AT £39,500

LOT 73 66 MARKET STREET NEW MILLS HIGH PEAK SOLD PRIOR

LOT 74 41 POLEFIELD HALL ROAD PRESTWICH MANCHESTER AVAILABLE AT £78,500

LOT 75 5A GREENFIELD ROAD LITTLE HULTON MANCHESTER AVAILABLE AT £30,000

LOT 76 33 HATHERSAGE ROAD LONGSIGHT MANCHESTER NOT OFFERED

LOT 77 17 SHAW ROAD SOUTH CALE GREEN STOCKPORT SOLD AT £75,000

LOT 78 1327 ASHTON OLD ROAD OPENSHAW MANCHESTER SOLD PRIOR

LOT 79 15 MOORLAND DRIVE LITTLE HULTON MANCHESTER SOLD AT £30,000

LOT 80 153 THOMSON ROAD GORTON MANCHESTER AVAILABLE AT £60,000

LOT 81 12 JAPAN STREET SALFORD MANCHESTER SOLD PRIOR

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60% sales is a very poor result compared to three years ago. Other auction houses have done similarly poorly this year. I dont know Manchester prices but it looks as if there are some very cheap houses there.

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H Sarah,

I was at the auction yesterday down at Old Trafford ( Cricket ) yesterday and saw Lots 12 through to 32.

It was certainly very crowded with people standing around the sides of the room and spilling out at the rear. How much of this was due to Homes under the Hammer being there isn't clear - Edward Mellor certainly mentioned this in their advertising prior to the auction.

I got the impression that most properties went for around their Guide Prices with the odd exceptions Eg Lot 21 was guided at £65k but only achieved £43k. I also got the impression that the auctioneer was disappointed that Lot 31, 7 Stafford Road, Ellesmere Park only achieved £200k - there wasn't much bidding at all.

Lot 29 Colliers Arms had the Guide Price raised from £60k to £75k ( Available) but there was just no interest in the room even down as low as £50k.

Interestingly Lot 24 6 Daresbury Road, Chorlton was bid up to £199k so I'm surprised to see it available today for £200k. Seems hard to believe that no deal could be done if that was a genuine bidder??? The 'bidder' was on the right of the room which was obscured from where I was so couldn't see if it was a genuine bidder or bids off the wall?

Although you can get the results on-line, it's always interesting to actually attend the auction in action as you can get the feel for the market - I certainly didn't get the impression that the market was booming or particularly bouyant.

I suspect Edward Mellor's traditional areas are seeing a substantial reversal of fortune as new BTL investors can't get the funds and it is left to old style private landlords to pick up the properties - at the price of a decent rental yield.

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60% sales is a very poor result compared to three years ago. Other auction houses have done similarly poorly this year. I dont know Manchester prices but it looks as if there are some very cheap houses there.

Most of them are 'Manchester'. The expensive ones are Manchester

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A friend used to live around the corner from this one:

LOT 43 77 CHELTENHAM ROAD CHEADLE HEATH STOCKPORT SOLD AT £110,000

But they paid 130-140k ish a couple of years ago. It's an ok-ish area I think, for Manchester. By which I mean it's not a real problem area, but it's also not an aspirational area like Didsbury or Chorlton.

It's telling that the couple that were in Chorlton didn't sell, even for £200k. I guess the sellers were still holding out for a higher price? So no real bargains in areas people traditionally want to live (yet?).

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Hi

Edward Mellor Auctions has generally had the less desirable areas of Manchester - It's tended to have Central and East Manchester out towards Oldham, Ashton and Stockport. In addition, it is traditionally an investors / builders auction and there are very few owner occupiers amongst the bidders. As such, it is not representative of Manchester as a whole.

It is rare for it to include properties from the more desirable areas of South Manchester although this auction did include Ellesmere Park, Chorlton and Poynton

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"Yesterday's auction saw a welcome return to the activity of three years ago, with an overflowing room, quick-fire sales that made the afternoon fly, and netted sales of around 60%. Some properties sold for well above guide price - a three bedroom semi detached house in Droylsden guided at £65,000 achieved £90,000, our "No Reserve" property in Blackley achieved £72,000, and a Blackpool property guided at £40,000 sold for £55,000.... The BBC's Homes Under the Hammer certainly bagged themselves some great stories!"

http://www.edwardmellor.co.uk/content/Auction/Online_Catalogue_and_Results/

I did plan on watching it and making a note of what the reserves were but forgot. The catalogue is up still if anyone wants to go through it.

RESULTS – AUCTION 7TH SEPTEMBER 2010

A very mixed bag there. No doubt some lucky vendors and rather more bargain hunters doing better. There are always some people who think the market is going to improve and others who think sentiment is down. Most auctions have become a little livelier recently, mainly because distressed sales are incresing steadily. It is not yet in crash mode, bu the market is very soft and some people are selling and running. I have never seen so many high priced homes for sale in Sussex as now. Large numbers of homes on RM from a half Million upwards.

Edited by plummet expert

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"Yesterday's auction saw a welcome return to the activity of three years ago, with an overflowing room, quick-fire sales that made the afternoon fly, and netted sales of around 60%. Some properties sold for well above guide price - a three bedroom semi detached house in Droylsden guided at £65,000 achieved £90,000, our "No Reserve" property in Blackley achieved £72,000, and a Blackpool property guided at £40,000 sold for £55,000.... The BBC's Homes Under the Hammer certainly bagged themselves some great stories!"

http://www.edwardmellor.co.uk/content/Auction/Online_Catalogue_and_Results/

I did plan on watching it and making a note of what the reserves were but forgot. The catalogue is up still if anyone wants to go through it.

RESULTS – AUCTION 7TH SEPTEMBER 2010

A very mixed bag there. No doubt some lucky vendors and rather more bargain hunters doing better. There are always some people who think the market is going to improve and others who think sentiment is down. Most auctions have become a little livelier recently, mainly because distressed sales are incresing steadily. It is not yet in crash mode, bu the market is very soft and some people are selling and running. I have never seen so many high priced homes for sale in Sussex as now. Large numbers of homes on RM from a half Million upwards.

Where did that last bit come from?

I watched a Liverpool auction online today saw about 25 of the 80 lots. Most had no bids, saw one lot (land) go for £106k guide 45k+. Everything else under guide. Mostly not reaching reserves so not selling. Saw one house guide £175 iirc bidding got to circa 88k not sold obviously.

I had a vision of an empty room there :)

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ame='plummet expert' date='08 September 2010 - 12:57 PM' timestamp='1283950649' post='2703165']

Where did that last bit come from?

I watched a Liverpool auction online today saw about 25 of the 80 lots. Most had no bids, saw one lot (land) go for £106k guide 45k+. Everything else under guide. Mostly not reaching reserves so not selling. Saw one house guide £175 iirc bidding got to circa 88k not sold obviously.

I had a vision of an empty room there :)

Where can you watch online?

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H Sarah,

I was at the auction yesterday down at Old Trafford ( Cricket ) yesterday and saw Lots 12 through to 32.

It was certainly very crowded with people standing around the sides of the room and spilling out at the rear. How much of this was due to Homes under the Hammer being there isn't clear - Edward Mellor certainly mentioned this in their advertising prior to the auction.

I got the impression that most properties went for around their Guide Prices with the odd exceptions Eg Lot 21 was guided at £65k but only achieved £43k. I also got the impression that the auctioneer was disappointed that Lot 31, 7 Stafford Road, Ellesmere Park only achieved £200k - there wasn't much bidding at all.

Lot 29 Colliers Arms had the Guide Price raised from £60k to £75k ( Available) but there was just no interest in the room even down as low as £50k.

Interestingly Lot 24 6 Daresbury Road, Chorlton was bid up to £199k so I'm surprised to see it available today for £200k. Seems hard to believe that no deal could be done if that was a genuine bidder??? The 'bidder' was on the right of the room which was obscured from where I was so couldn't see if it was a genuine bidder or bids off the wall?

Although you can get the results on-line, it's always interesting to actually attend the auction in action as you can get the feel for the market - I certainly didn't get the impression that the market was booming or particularly bouyant.

I suspect Edward Mellor's traditional areas are seeing a substantial reversal of fortune as new BTL investors can't get the funds and it is left to old style private landlords to pick up the properties - at the price of a decent rental yield.

Sorry I am an idiot-Original post removed.

I did want to add the obvious. Remember there are a lot of idiots of my (60's) generation, with cash and aspirations of being " a propert developer". That's a leathal combination-cash+idiot+ego.

Edited by tomwatkins

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It was certainly very crowded with people standing around the sides of the room and spilling out at the rear. How much of this was due to Homes under the Hammer being there isn't clear

If the boosting effect is anything like as effective as it is on church attendance when Songs of Praise is in town, I think we've just explained the success of that auction.

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60% sales is a very poor result compared to three years ago. Other auction houses have done similarly poorly this year. I dont know Manchester prices but it looks as if there are some very cheap houses there.

They are not "cheap" - they are falling back down to what they are sustainably 'WORTH'!

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