The auction market has performed well throughout the year and looks set to continue to deliver excellent results in 2025. In this article, we’ll discuss auction market performance over the past year and examine what vendors can expect from the new year.
Last year we reported how the property industry across the UK auction market was heating up, with an 8.7% rise in the total number of lots offered at auction during October 2023.
We’ve certainly seen a consistent level of business throughout 2024, with each auction sale drawing hundreds of invested bidders and driving healthy sales. During our recent December property auction, we sold 36 properties, generating over £4,300,000 in sales for our vendors.
Key performance indicators from across the property industry have also consistently shown strong levels of activity for both auction and traditional property sales.
The Royal Institution of Chartered Surveyors’ (RICS’) (2) September 2024 UK Residential Market Survey reported a sustained increase in market activity across all of its measurements for demand, sales and new listings. This messaging was reiterated in its November reporting, although with a slight season tailing-off for property transactions in recent weeks.
With the Bank of England reporting 68,303 mortgage approvals in October 2024 compared with 48,259 in October 2023 for both residential and buy-to-let (BTL) sales, it seems clear that the UK property market is showing high levels of resilience.
According to Essential Information Group (EIG) (2) there has been a steady increase in auction property sales since 2022, with a peak in 2024 Q3, where 2,226 lots were offered and 1,551 were sold.
Market growth has been primarily driven by residential sales. In Q3 2024, EIG reported that of the 2,226 lots offered for auction, 1,075 (48%) were residential properties.
This information is reflective of the wider demand across the market generally and indicates that while the rental market is facing significant upheaval, savvy landlords are still able to count on rental demand to return healthy yields.
Location plays a significant role in determining the strength of auction sales. Auction sales across the North of England have been especially buoyant, with the North West achieving consistently growing volumes of sales and sale prices since 2022.
Landlords looking to increase their portfolios while others leave, property investors and first-time buyers (FTB) will have a broad choice of properties during 2025.
Conversely, landlords who wish to divest their assets, vendors selling at probate and sellers with renovated properties will find an eager market waiting for them during the new year.
“As we step into 2025, the property market finds itself at a fascinating juncture. Economic fluctuations, technological advancements, and shifting buyer preferences are shaping new trends in how property is bought and sold.
Among these trends, one practice is gaining substantial traction: auctions. Here’s why auctions are set to play a pivotal role in the property market of 2025.
Property auctions, both live and online, offer a time-sensitive and competitive environment that benefits buyers and sellers alike. Buyers gain access to transparent bidding processes, ensuring they pay market-driven prices. Sellers, on the other hand, benefit from reduced time on the market and the elimination of prolonged negotiations. In 2025, these advantages are resonating more strongly than ever,” says Head of Auction at Edward Mellor, Louise Buttery.
“Technology is a major driver behind the growth of auctions in the property market. In 2025, auctions no longer require a physical gavel; instead, they thrive on digital platforms that allow buyers to participate from anywhere in the world.
Moreover, artificial intelligence is helping auction platforms analyse buyer behaviour, set optimal starting prices, and predict demand trends. These innovations create a win-win scenario for all parties involved, with smoother transactions and higher confidence in outcomes,” she explains.
“One of the key factors drawing attention to auctions in 2025 is their potential to address affordability issues. For buyers, auctions provide an opportunity to access properties that might otherwise remain out of reach in a traditional sales process. Sellers, too, benefit by attracting a broader pool of potential buyers, including those who might be deterred by protracted negotiation periods. Additionally, auctions eliminate the uncertainty of offers falling through, which is a growing concern in today’s market.
The rise of auctions in the property market reflects broader shifts in consumer behaviour and market dynamics.
As technology continues to evolve and stakeholders embrace the benefits of this model, auctions are likely to solidify their role as key players in property transactions.
For buyers, sellers, and agents, 2025 marks an exciting time to explore the possibilities offered by auctions. With speed, transparency, and global accessibility, auctions are transforming the way properties change hands, shaping a more dynamic and equitable property market for years to come.”
If you are looking to sell your property at auction, speak to our auction experts today. Edward Mellor is a leading national property auction house and the only local organisation that combines auction, estate agency, and financial services under one roof.
Our first online property auction for 2025 is set to take place on the 22nd – 23rd of January, so register today to bid and access legal packs for the properties on offer.
You can also find out when our upcoming property auctions will be taking place throughout the year by visiting our auction calendar.
Our first property auction of the new year will take place on 22nd January 2025, however, we’re also preparing for our other auction events that will take place throughout the year.
Our current key auction dates for 2025 are:
Keep an eye on our auction calendar for further updates throughout the year.
We have an exciting collection of properties lined up for our January property auction, including residential properties, apartments and several plots with excellent development potential.
The properties below are just a small selection of what we have on offer next month. To view our entire auction catalogue, read the auction packs or register to bid, simply visit the January auction page using the link below:
This modern two-bedroom apartment is located on the 9th floor of the sought-after Fresh Apartments in Chapel Street. The property is currently tenanted, generating a reported rental income of £1,150 per month, making it an attractive investment opportunity.
This vacant property consists of a porch, a hall leading to a lounge/dining area, kitchen, three bedrooms and a bathroom. It boasts a large plot with front and rear gardens, driveway and garage.
Whether you’re looking for a property to develop and sell on, a lucrative buy-to-let investment or for a canvas to create your next home. This spacious detached property is located in a popular residential area and is not one to miss!
This lot situated in Bedlington, Northumberland represents an excellent opportunity to acquire two freehold development plots with full planning permission for the construction of two stylish bungalows in a sought-after area.
2 – https://www.eigpropertyauctions.co.uk/news/pad/2024/q4
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