Table of Contents
- Auction Properties In North West England
- Property Prices In North West England
- Where Should You Look For Auction Properties In North West England?
- Auction Properties in NW England FAQ
- What Type Of Auction Property In North West England Are Available?
- Five Reasons To Buy Auction Properties In North West England
- A Few Final Thoughts About Buying Auction Properties In North West England
Auction Properties In North West England
Buying Auction Properties In North West England
Anyone considering buying auction properties in North West England will find a very wide choice on offer. In addition to the many designated residential properties, there are buildings that were previously used to house manufacturing or other industries and these can be ideal for conversion to modern apartments that are close to all amenities.
In this are of the UK you can opt for city life or a place in the beautiful countryside. Buying auction properties in North West England is highly desirable and can be affordable whatever your budget.
Property Prices In North West England
The average house price in February 2020 for North West England stood at £163,602. Unlike other regions of the UK, this area continues to see a steady increase in the value of property, a rise of 6% since 2017. The region is so large that inevitably there are wide variations in local neighbourhoods. In addition, auction property prices are usually lower than the norm.
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Cheshire is the most expensive part of the region where a semi-detached house will cost around £260,000 +. In Lancashire the same type of house can be purchased for £174,000 +. Other factors that impact on price are the condition of the property, the local amenities such as schools and shops and the transport links to towns and cities.
This region has undergone some regeneration since the departure of its industrial heritage where old terrace house have been pulled down and replaced with modern apartments. However, there are many neighbourhoods where property prices in North West England are considerably lower than in other parts of the UK and you can secure a bargain.
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Where Should You Look For Auction Properties In North West England?
Choosing a location to look for property in North West England is usually paramount but this may also depend upon your own personal list of priorities. If the amount you have to spend is limited then it is important to compromise on other demands which may be on your list. North West England is very diverse with large cities and small rural villages as well as older industrial towns.
Your personal wants and needs will ultimately dictate where to look for auction properties in North West England but here is a selection of the areas of the region where you could consider starting your search.
Parts of Cumbria are remote but there are several large towns such as Barrow In Furness and Carlisle where you can find auction properties. This part of North West England is connected to the rest of the UK through the M6 motorway and an excellent rail link that runs adjacent to the motorway. Auction houses offer old farmhouses, barns ripe for conversion and more traditional residential properties in Cumbria.
St Helens Merseyside
St Helens is one of the five metropolitan boroughs of Merseyside. There is a lot of choice when it comes to purchasing auction properties. A 2-bedroom terrace house can be bought for around £70,000 making this district an ideal place for property investment. Close enough to Liverpool university to attract students, buying an auction property in St Helens to rent out would allow you to reap some immediate rewards for your investment.
The county town of Cheshire, Chester offers auction properties at the higher end of the market. Renowned for its history and culture, Chester has excellent transport links by rail and road including close proximity to the North West motorways M6, M62 and M56. Typically, for a county town, property prices are somewhat higher than other sectors in the North West. Average selling prices are around £271,000 but auction property prices are usually lower and a studio flat close to the university can be bought for as little as £54,000.
Contained within the metropolitan borough of Greater Manchester, Salford is a city in its own right. Salford Docks has undergone extensive regeneration since closing in 1982 and is now a centre for tourism as well as retail businesses, eCommerce and the BBC. It is served by nine railway stations with an excellent bus network. Auction properties in Salford can be found with a guide price of £75,000 for a 2-bedroom apartment.
Rochdale is also part of the Greater Manchester Metropolitan Borough. It encompasses other towns like Middleton and Heywood. Parts of the city have a high density population but there are plenty of nearby green open spaces. House prices in this area are lower than other parts of the borough so you can get a lot more for your money. Auction properties in Rochdale vary from small terrace houses to closed down industrial buildings ready for conversion.
Auction Properties in NW England FAQ
How Can I Find Auction Properties In North West England?
Forthcoming property auctions can be found online and many of them also advertise in local newspapers, free papers or flyers. Auction houses all use similar rules and most properties will be advertised with a guide price as well as the reserve being asked.
What Is The Cost Of Auction Properties In North West England?
The average price of a house in North West England is £163,602 but from the top of the market to the lower end there can be a wide variation. Auction properties in North West England are usually cheaper than properties which are ready to inhabit.
Where Are The Best Auction Properties In North West England?
Auction properties in North West England can be found in places like Cumbria, Rochdale, Manchester, Liverpool and Chester plus many other locations. Just contact one of the many auction houses which are regularly updated with a wide variety of properties. You can find guide prices listed for individual places and decide what is within your property budget.
Can I Find Buy-To-Let Auction Properties in North West England?
Buy-To-Let auction properties are readily available in cities and towns throughout North West England, especially Manchester, Liverpool and surrounding towns. Auction houses list all properties suitable for this purpose and you can either attend in person or use remote bidding to secure a property of your choice.
What Type Of Auction Property In North West England Are Available?
There is a good choice of auction properties in North West England. The range is wide with purpose built residential homes in terraces or on estates through to derelict industrial sites and barns that can be converted to homes.
Commercial Properties For Auction In North West England
There are many commercial properties for auction available in North West England. Since much of the traditional industry moved out, the emphasis now is on retail and new businesses like energy and tech. Many parts of the region have empty shops, some with upstairs accommodation and abandoned warehouses or other industrial premises for mixed use are easy to find.
Residential Auction Property In North West England
The range of residential auction properties in North West England is huge. The diversity of the region means you can find manor houses, traditional semi-detached homes, bungalows, modern flats and maisonettes. There are also Victorian terrace houses that are well within reach of a modest budget.
Buy-To-Let Property In North West England
The opportunities to invest in buy-to-let auction properties in North West England are prolific. Properties in this region are sold at much lower prices than in other parts of the UK. There are several universities within the region with a high student population making buy-to-let properties a worthwhile investment. Some parts of the North West have whole apartment blocks for auction and the supply of renovation projects is almost unlimited.
Five Reasons To Buy Auction Properties In North West England
1. North West England Is A Friendly Place To Live
North West England is one of the friendliest places to live in the UK. There is less stress attached to living in this part of the country but the amenities are still excellent including shopping and infrastructure. In addition, the cost of living is lower than in other parts of England.
2. North West England is a good place to Invest In Property
Property prices are lower than in the South and you get a lot more space for your money. The high student population means that you can also get a return for your investment by letting out a property purchased in this region.
3. Excellent Transport Links In North West England
The large cities in North West England are all well served by rail and road. The M6 links the region to both North and South whilst the M60 and M62 go from the West coast to the East. Railways link up throughout the region making commuting from out of town to the city a viable prospect.
4. A Huge Variety Of Auction Properties in North West England
The diversity of this region means that there is plenty of choice when it comes to buying an auction property. You can choose from rural farmhouses, terraces in the city and modern apartments. Additionally, many auction properties in the area are mixed use so you can combine business and living accommodation.
5. North West England Has History And Culture
North West England is full of history and culture. The cities have been regenerated and are cosmopolitan. You can choose a rural area that is traditional or invest in an auction property that is located in a city. With vibrant nightlife, great shopping and beautiful architecture, this is an excellent option.
A Few Final Thoughts About Buying Auction Properties In North West England
Buying an auction property in North West England can prove to be an excellent investment as long as you do your homework prior to attending an auction. Doing some research is essential so that you are fully aware of your limitations for a budget and locations.
Making an impulsive purchase is one of the pitfalls that buyers can fall into. In order to avoid this it is important to ensure that you understand how auctions work and what the contract entails. Always get a survey of the property in advance of the bidding and make sure that you have adequate funds to back up your bid.