National property auctioneer Auction House sold more than 5,500 properties in 2024 despite a turbulent year for the property market.
Political and economic change, both abroad and at home, meant that 2024 was never going to be an easy year for the property market. However, the auctioneer’s unique regional presence, combined with the national reach of Auction House’s online and in-room offerings, meant that the company not only weathered the storm but achieved record-breaking results.
From strength to strength
Over the course of 2024, Auction House hosted 183 auctions with 7,802 lots offered. Of these, an impressive 5,606 were sold (71.8%), raising nearly £780 million. These sales far surpassed those of other national auctioneers.
This sales total marks a noticeable uptick from the previous year: in 2023, 4,854 properties were sold. Year-on-year, sales have therefore increased by a remarkable 15.4%.
These results are indicative of the continued momentum Auction House has achieved since the pandemic. When COVID-19 put a stop to in-room auctions, Auction House was quick to adapt their services and implement online auction solutions.
This move has been hugely successful: since 2019, there has been a 47.7% rise in properties sold.
There also appears to be growing enthusiasm in buying and selling by unconditional auction. This is due to the speed of sale and the certainty provided at the fall of the gavel, at which point exchange of contracts takes place. As a result, Auction House’s website attracted more than four million visits in 2024.
The future of property auctions is here
Since the pandemic forced the issue, property investors and homebuyers have become far more comfortable making important, expensive purchases online from the comfort of their own homes.
In the first full year of the pandemic, Auction House’s weekly national online auctions achieved sales of 180 properties. This has climbed dramatically over the ensuing years with 1,018 properties sold in 2024, a 465% increase.
The increased national reach offered by these online auctions has also enabled Auction House’s regional offices to enhance their offering, leveraging local networks while broadcasting to a national and international pool of buyers.
Aiming high for 2025
With Stamp Duty reforms and other initiatives kicking into gear this year, the property market certainly still has some challenges ahead of it. However, thanks to the simplicity and speed of auctions, plus the comfort and accessibility of online bidding, Auction House is upbeat about what the next 12 months hold.
Commenting on 2024’s results and the company’s aspirations for the future, Auction House Managing Director Jeremy Prior said: “We’ve had an immensely successful year and have consistently proved the power of combining our regional networks with a national, digital offering. This new year is looking to be an exciting one, especially as we continue to innovate and promote the expertise of our local teams. As a result, we are confident in having another record-breaking year.”
Learn more about Auction House
If you are looking to sell land or property this year, you can book a free, no-obligation valuation with Auction House. Alternatively, you can take a look at the lots currently available in their upcoming auctions.
