March Property Auction Market Update

Normal Service Resumes …. Market Is Vibrant

What happened at the residential property auctions in February 2025? In this monthly update we will take a closer look at current trends in sales volumes, percentages sold, amounts raised and other interesting trends in the residential auctions market.

Number of lots offered

January every year is usually one of the slowest months for residential auctions. January 2025 proved to be no exception. Less than a thousand properties were offered at the sales we track.

The good news for buyers, sellers and auction houses alike is that the market picked up quickly in February. Indeed the volume of business mirrored the brisk business done in December 2024 fairly closely. Just over 3,200 lots were offered at the auctions we track – 8% up on the monthly average over the last year.

Interestingly this month, many more lots were offered online than at live sales. For every lot offered at a live event two were offered online.

Most major auctions held sales. Numbers were likely lifted by the return of Barnard Marcus after a break from the market last month. And just short of a thousand lots entered across the Auction House network.

Percentages sold

The percentage of lots sold at sales also ticked upwards again in February, after a slight fall back in January. 72% of all lots entered across all types of sale were sold.

It is worth noting that performance at live and live streamed events appeared to be particularly strong – 75.5% of lots entered into these sales sold.

Several sales performed notably well by selling circa 80% or 90% of their lots. One online sale sold 100% of their 19 properties offered.

Amount raised

There appeared to be plenty of money looking for a new home in property this month. After a slow January the amount raised at residential auctions rebounded strongly in February. Around £448m was raised at the auctions we track.

February’s takings were slightly ahead of the monthly average over the last year. They were well ahead of the same month in 2024 (£402m) – and even further ahead of the same month in 2023 (£377m).

Average amount per sale

The average price of a house bought at auction in February 2025 was £194,148. This was a slight decline compared to recent months when average prices of auction property have exceeded £200,000.

Comment

Bond Wolfe’s first auction of 2025 underlined the positive tone: 160 properties were offered raising over £21m with a strong 89% sales rate. Strong demand was emphasised by the fact several lots were sold prior to the sale day, and at figures above their guide prices.

Gurpreet Bassi, Chief Executive of Bond Wolfe, said: “This was an outstanding start to what promises to be another fantastic year for our auctions.

“The demand for solid investments—whether residential, commercial, or land—remains strong, and we are proud to deliver excellent results for our clients.”

On the lots sold prior he commented: “These pre-auction sales significantly exceeded expectations, reinforcing the strength of our client network and the growing appetite for investment properties.

“Our 2025 auction calendar is shaping up to be our best yet, with more sellers, institutions, and local authorities recognising the rapid and effective results our auctions deliver.”

Summary

The property market has been dogged by a range of economic and political issues this autumn and winter. Interest rate cuts do not seem to have energised the market much. The wider residential sales market appears to be quiet and prices are effectively stagnant in some areas of the country.

In the circumstances the residential auctions market seems to be performing better. Despite a small (possibly insignificant) drop in average prices the numbers offered, numbers sold and amount raised were all strong in February.

Further challenges lay ahead for the property market, including a government budget statement at the end of March, and rises to both Stamp Duty and Employer’s National Insurance contributions in April. These probably won’t feed through to the market in March but they are bound to have some impact as the year progresses.

Check out our monthly updated statistics below, courtesy of the Essential Information Group (click on the key colours to highlight / dehighlight):