Domestic Newport car garage sells for three times estimate as property sales boom in the city

A  single car garage in Newport attracted 123 bids eventually selling for three times its guide price when it was put up for sale at auction.

The almost frenzied interest in the sale of the humble garage and the price obtained is an example of the red hot property market in the city, a leading expert says

Sean Roper, of Newport-based Paul Fosh Auctions, says bids rained in as soon as the property in the city’s Downing Street went live.

And bidding didn’t stop until 123 bids later when the garage at the rear of 19 Downing Street and listed with a guide price of £9,000, sold for £32,950.

Sean Roper, of Paul Fosh Auctions, said: “Interest in the sizeable garage was red hot. The first bid was registered  as soon as the auction went live at 12 noon and bids kept on coming until the hammer fell two days later.

“Interest in property in general in the Newport area is very strong. The sale of this quite ordinary garage, for more than three times its guide, is an illustration that the city is a real hot spot for property buyers with almost everything that is offered for sale being snapped up at auction.”

The garage was sold in Paul Fosh Auctions February sale. The next Paul Fosh Auctions sale starts on Tuesday, March 8, ending from 5pm on Thursday March 10.