There are bargains galore in the latest Bigwood auction as new
price realism begins to take root.
And that is good news in particular for first time buyers
struggling to qualify for mortgages and raise deposits.
According to Bigwood the archetypal three-bedroom semi-detached
is back to being affordable for many.
But high end property owners now also understand that the
changed housing fundamentals look here to stay.
"I have hardly ever seen so many cheap deals available," said
director Jonathan Hackett.
The auction goes ahead on Thursday, May 19, in the Holte Suite
at the Villa Park Conference Centre, part of the Aston Villa
football club complex on Trinity Road, Aston.
There is a huge total of 133 lots comprising residential and
commercial property, land and development sites and a considerable
number of ground rents. Sellers include Birmingham, Sandwell and
Wolverhampton councils, housing associations and LPA receivers.
At the truly cheap end is 91 Trimpley Road, Bartley Green,
Birmingham, a vacant leasehold two-bedroom mid terraced property
with a guide price of just £25,000 but in need of extensive
structural repairs and general improvement. And 77 Alexandra Road,
Tipton, a four bedroom detached, can be picked up for
£48,000-£53,000.
In Birmingham three bedroom opportunities include 14 Victoria
Road, Stechford, in excess of £75,000; 19 Duncroft Road,
South Yardley, guide price £78,000-£82,000; 976 Alum
Rock Road, Ward End, guide price also £78,000-£82,000;
39 Gracemere Crescent, Hall Green, a freehold mid terraced property
with a guide price in excess of £85,000; 39 Barbara Road,
Hall Green, in excess of £85,000, 214 School Road, Yardley
Wood, guide price £95,000-£105,000; and detached 21
Myrtle Road, Kings Heath, £125,000-£130,000.
Some though need modernisation.
Moving up to bigger and older properties, 96 and 98 Fentham
Road, Erdington, Birmingham, are divided into six units and
available at £115,000 to £125,000; 162 South Road,
Erdington, is £125,000-£130,000 - it has previously
been let as six bedsits; former hostel Unity House, 255-257 Grove
Lane, Handsworth, a pair of three-story semi-detached properties,
has a guide price of £170,000-£175,000; and investment
opportunity 664 Pershore Road, Selly Oak, split into seven flats,
is bringing in gross income of £31,440 but priced at
£240,000 to £260,000.
Bungalows too are becoming far more affordable.
No. 389 Walmley Road, Sutton Coldfield, is leasehold detached,
with a guide price of only £98,000. However it has been fire
damaged and is in need of extensive repair and improvement or
demolition and redevelopment. The Planes, 219 Atherstone Road,
Measham, Derbyshire, detached and coming complete with a large
pond, has three bedrooms and is on offer at
£135,000-£140,000, down from £220,000. And 3
Orchard Road, Erdington, Birmingham, a detached dormer bungalow has
a guide price of £188,000-£193,000.
A semi-detached three bedroom at 44 Selwyn Road, Edgbaston,
beside the reservoir, has a guide price of
£200,000-£225,000.
A four-bedroom semi-detached at 268 Harborne Park Road in the
desirable Birmingham suburb of Harborne can be yours for in excess
of £275,000.
But perhaps the jewel in the crown of the residential properties
coming under the hammer is Hornton Lodge, Rosemary Hill Road,
Little Aston.
The vacant freehold detached building, which has undergone
significant refurbishment, has a guide price of
£675,000-£695,000.
It was previously on the market over £800,000.
With three reception rooms and four bedrooms, it was originally
built as a lodge to Hornton Manor.
It includes gardens to the front and side and boasts a large
summer house.
For more information about Bigwood please visit their website
here: www.bigwood.uk.com