May Property Auction Market Update

Market Drops Off Slightly

What happened at the residential property auctions in April 2024? In this regular update we will identify some current trends in sales volumes, percentages sold, amounts raised and other interesting trends in the residential auctions market.

Number of lots offered

After a couple of fairly busy months in the residential auctions lot numbers tailed off in April. Around 2,500 properties were offered at the auctions we track. This was around 500 properties fewer than in March 2025. Although numbers were similar to April last year this was around 12% below the long term average.

Lot numbers were fairly evenly balanced between sales held in the room and online. Notably, five years after Covid moved all auctions online the auction houses now seem settled on the way they will offer their properties going forward.

Allsop, the Auction House network, Bond Wolfe and Barnard Marcus all had sizable sales. Although notable was that some of the smaller sales had fairly modest lot entry numbers.

Percentages sold

The percentage of lots offered which actually sold at a sale is always an interesting statistic to follow. It reflects, on the one hand, how keen buyers are to buy. Secondly it also suggests, perhaps, how attractive pricing is.

In April, just over 74% of all properties offered across all auctions actually sold. This is an impressive performance, and the highest sales rate for over a year. (In recent months it has hovered around 69%-71%.) Live auction sales rates were particularly strong at over 76%.

Even the poorer performing sales (and ‘poorer’ is not really the word) sold 50% or 60% of their lots.

Amount raised

The amount raised at the April records we track did not break any records. It was well short of the best months of 2024-25. Only the traditionally slow summer holiday and winter months raised less.

At £339m raised the auction takings in April were slightly under last April and a full 21% under the long term average over the last 12 months.

Average amount per sale

The average price of a house sold at the auctions we track was around £181,000. This was a noticeable drop compared to recent months when average prices have been over £200,000. Prices in the wider sales market have certainly softened, but not to the same extent.

Comment

Allsop raised £28m at its latest residential auction, representing a success rate of 76%.

Richard Adamson, managing partner and residential auctioneer at Allsop, said: “During an economic and political climate which seems to be in a prolonged state of unpredictable uncertainty, it is no surprise that some investors are a little more cautious than they have been for a while. Despite this, our result shows that there is still strong demand for well-priced income-producing assets and suitable value-add opportunities.

“The volatility we have witnessed in the stock market recently has seen some investors turning to the safe haven of UK real estate, which is a trend we have seen over the past few years. We look forward to witnessing continued investor appetite at our next auction, which takes place over two days next month.”

Summary

After a March in which sales held up the residential auctions market dropped off to some extent in April.

Lot numbers, the amount raised and average prices all declined notably. Going against the flow, however, was a very strong sales success rate.

Most likely the falling numbers weren’t entirely a reflection of the market. But also due to the fact the Easter break and school holidays meant the market took an enforced break.

Nevertheless, as Richard Adamson points out, these are uncertain times for the economy and the property market generally. UK economic performance, the stock market and the ‘Trump tariffs’ amongst other things are all factors that will have weighed on buyers’ and investors’ minds.

Going forward, while this uncertainty is likely to continue, one factor could have a positive impact on the market in the coming months. That is the recent reductions in the interest rate which could make buying and investing (whether by auction or other methods) more attractive again.

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