Over the past five years, the UK property market has seen a notable shift in how homes are being bought and sold. While traditional sales via estate agents still dominate, property auctions are gaining traction, with more homes going under the hammer than ever before.

The Numbers Tell the Story

Looking at national data gathered by Propalt, the percentage of properties sold at auction has more than doubled since 2020. Considering the number of properties coming to market continue to grow year on year, it would appear more and more vendors are considering auctioning their property.

• 2020 – 1.35% of properties sold at auction
• 2021 – 1.85%
• 2022 – 2.56%
• 2023 – 3.19%
• 2024 – 3.17%
• 2025 (to date) – 3.33%

This growth suggests a shift in both buyer and seller behaviour, as auctions become an increasingly attractive option. But what’s driving this trend?

Why Are More Properties Going to Auction?

There are several possible reasons why auctions are seeing a rise in popularity:

1. Speed of Sale – Auctions offer a quicker and more transparent way to sell a property, often completing in a matter of weeks rather than months.
2. Certainty – Once the hammer falls, the sale is legally binding, reducing the risk of deals falling through at the last minute.
3. Market Conditions – With economic uncertainty and fluctuating interest rates, some sellers are opting for auctions to secure a definite sale.
4. Increased Awareness – Online platforms and greater exposure have made auctions more accessible to a wider range of buyers and sellers.

Shifting Motivations: Frustrated Sellers Turning to Auctions?

While the overall number of properties sold at auction continues to rise, data suggests that the number of vendors who first attempted to sell on the open market before turning to auction has plateaued since 2023. Between 2020 and 2022, there was a sharp increase in properties that initially failed to sell through a conventional sale and were later auctioned—suggesting growing frustration with the traditional sales process. However, from 2023 onwards, these numbers have stabilised, even slightly declining in 2024.

• 2020 – 950 properties initially listed on the open market later went to auction (268 in Q1).
• 2021 – 1,201 properties (338 in Q1).
• 2022 – 1,643 properties (301 in Q1).
• 2023 – 2,248 properties (551 in Q1).
• 2024 – 2,081 properties (558 in Q1).
• 2025 – Q1 figure stands at 472.

The Q1 2025 data suggests that while auctions remain a popular fallback for sellers seeking a faster transaction, the shift from private sale to auction may have reached a natural limit. Given the continued year-on-year growth in auction sales, this also suggests that the expansion of the UK auction market isn’t solely driven by sellers struggling to find buyers through estate agents but is increasingly fuelled by those who view auction as their first-choice selling method.

Could the UK Follow Australia’s Auction Model?

In countries like Australia, auctions are a mainstream way to buy and sell property, with a significant proportion of homes sold this way each year. Could the UK be heading in the same direction? While the auction market here is still a small fraction of total sales, the steady increase suggests a growing acceptance of the model.

What Does This Mean for Buyers and Sellers?

For buyers, auctions offer the chance to secure a property at a competitive price, but they also require thorough preparation and financial readiness. Sellers, on the other hand, can benefit from a faster, more reliable process—especially in a challenging market.

Final Thoughts

The UK auction market is evolving, and if the past five years are anything to go by, we can expect even more properties to be sold this way in the future. Whether this will reach the levels seen in Australia remains to be seen, but one thing is clear: auctions are no longer just for distressed properties or investment deals—they’re becoming a viable option for mainstream buyers and sellers alike.

Would you consider buying or selling at auction? Let us know your thoughts!