A record-breaking February lays the foundation of another successful year for the nationwide property auctioneer.
Despite challenging market conditions, the first quarter of 2025 saw a flurry of activity for Auction House, which hosted 44 online, livestream and in-room auctions across the country. In total, 1,918 properties were offered, a 14% rise on Q1 2024. This resulted in solid sales of 1,341 lots and raised just under £185 million for Auction House clients.
But it was February’s performance that really lit the fire under Auction House’s results.
Unprecedented performance
With the Stamp Duty deadline looming on the 1st April, the beginning of 2025 was always going to be busy with buyers and sellers moving ahead with their property plans.
Thanks to traditional auction conditions, which see the immediate exchange of contracts on the fall of the gavel, and completion within 28 days, auctions gave buyers the confidence that they could purchase a property before the Stamp Duty thresholds were changed.
As a result, February not only exceeded Auction House’s sales for that month in any previous year but also outperformed every month in 2024.
Bidder registration numbers for the company’s national online auctions during February rocketed by 85%, and a staggering 935 lots were entered for auction across the country. This exceeds the company’s previous record of 860, set in September 2024.
Overall, a ceiling-breaking 676 lots were sold in the month, raising £93.6 million.
Reaction to change
These results indicate the impact that change, or the anticipation of it, can have on the motivations of buyers and sellers.
“It is unsurprising that our previous record of lots offered was in September 2024, as this was when rumours regarding the Chancellor’s Autumn Statement reached fever pitch,” commented Jeremy Prior, Managing Director of Auction House. “The same happened this year before the Stamp Duty changes came into effect in April.”
In addition, global factors have an impact on buyer and seller confidence. President Trump’s latest announcement of widespread tariffs makes it likely that confidence in all investment categories will take a beating.
However, April’s House Price Index provides reassurance that buyers have at least adapted to the new Stamp Duty thresholds. Rightmove reported that the average asking price had risen by 1.4% from March 2025, a significant uptick given the new tax level.
“Global uncertainties will certainly continue to test the property market, but its resilience is already being displayed in the wake of the Stamp Duty change. As ever, bricks and mortar is seen as one of the safest forms of investment in difficult times,” said Jeremy Prior.
Looking ahead, we anticipate that further reductions to the base rate will boost the market over the remainder of 2025. It is currently expected that a decrease will be announced in May, with a drop of up to 50 basis points (bps) occurring over the course of the year. “With this reduction we expect an increase in market activity and growth as stakeholders, who have previously been priced out, are drawn back into the market,” concluded Jeremy Prior.
Learn more about Auction House
Buyers can take a look at lots in upcoming auctions on Auction House’s website. Alternatively, sellers can discover if their property or land is suitable for auction by booking a free, no-obligation valuation.
