Local Community News


maderiaroadjohnpyeauction2Stunning seaside flats and apartments on the Isle of Wight will offer property investors, or those looking for the ideal holiday home, the chance to invest when they come to auction in this month’s John Pye online property auction.

The four spacious holiday homes in Madeira Road, Ventnor will be going on the market with guide prices starting at £59,950 thanks to vendor John Pye Property – the first in the UK to take its auctions entirely online attracting a broad reach of buyers.

The Isle of Wight properties are one of more than 20 lots the auction house is putting up in a £1 million online property auction from 17th September to 24th September.

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Richard Reed MRICS, head of property at John Pye Auctions, said:

“These flats are situated in a hotly sought after area and will be a brilliant investment as either a family holiday home or holiday-let opportunity.

“The four apartments going under the hammer are a mix of two and one beds on the ground and upper floor of a converted stone-built house.”

“House prices in some parts of the Isle of Wight have risen by 20.8 per cent over the last five years so this is definitely a great opportunity for investors to take advantage of.

“We have seen demand from many city dwellers wanting to either sell up and buy a dream home by the sea or invest in a weekend escape. This has been shown in our last few auctions with bidding wars breaking out between buyers for holiday homes of this type.

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“This not only reflects the rise in popularity of property auctions online, but also shows an increased level of confidence in snapping up residential property as an investment proposition.”

John Pye will be holding its next online auction between 17th September and 24th September 2015. Visit www.johnpye.co.uk.

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