Local homes go under the hammer in the city

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NEBITS, the Portsmouth property auctioneers, held a very successful property auction at The Royal Marines Museum on March 8 with a sales total of £1.5m – a 91 per cent success rate.

Three lots were sold prior, six lots sold at the sale, and one lot immediately following the sale.

A flat in Northern Parade was the one that “got away”, but has been withdrawn pending modernisation.

There was spirited bidding from an attendance of nearly 200 people and lots sold in excess of pre-sale guide prices.

A three-bedroom bay and forecourt house in Bonchurch Road, Milton, with a guide of £120/125,000 achieved £141,000.

There was a battle between two lady purchasers for a large property in Pelham Road, Southsea, within a conservation area, but with a planning use for six flatlets, which achieved £282,000 after 50 bids.

The auction was a good indication of greater purchaser confidence, and although for lower value properties, it was particularly encouraging with the return of small builders and investors.

The sale confirmed that for the right properties, sale by auction generates competitive interest, with a signed contract at the sale and a swift completion.

For further details, please call (023) 9286 4321.

Nesbits is one of the country’s leading independent estate agents, property auctioneers and fine art auctioneers, in Southsea.

Find out more at nesbits.co.uk