The number of homes sold through the modern method of auction increased by 14.5% over the past year, according to data from estate and letting agency network Lomond.
Completed transactions using the method rose by 9.4% year-on-year as more sellers looked for greater speed and certainty in a market where conventional sales remain lengthy.
Modern method auctions are conducted online over an extended bidding period, giving buyers more time to arrange finance than under a traditional auction.
Lomond says transactions are required to complete within 56 days once a price has been agreed, compared with an average of 98 days for sales through other routes – a reduction of approximately 43%.
REGIONAL ACTIVITY INCREASES
Yorkshire and Manchester recorded particularly strong growth in auction activity across the Lomond network.
The number of Yorkshire properties offered through auction increased by 25% year-on-year during the first quarter of 2026.
Meanwhile, modern method auction completions in Manchester rose by 13.6% compared with the previous year.
The network says correctly priced properties continue to attract buyers, with certainty becoming increasingly important to both parties as conventional transaction times remain prolonged.
NOT JUST FOR RENOVATION PROJECTS
Paul Clarke (main picture), Chief Revenue Officer for the North West and Midlands at Lomond, says: “Auction sales are becoming an increasingly attractive option for vendors seeking greater speed and certainty.
“There’s been a misconception previously that auction sales are for properties that need serious renovations, but this is most certainly not always the case.
“As transaction timelines continue to lengthen across the wider housing market, auctions offer a route to a quicker, more secure sale, helping to explain the growing appetite we’re seeing across a number of our regional brands.”
