The residential auctioneer has broken down the towns and cities where estate agents are having the most auction success, showing that outside of London Nottingham tops the list with a total capital value of £2.3 million, followed by Bristol, Leicester, Manchester and Telford.
iamproperty reports that bids per property have risen dramatically in the last three years, with the number of bids in the North rising by 172% versus July 2019 and by 345% in the South during the same period.
The increase in bids has had a knock-on effect and overall sales totals have risen by 132% and 574%, respectively.
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Jamie Cooke, Managing Director at iamsold said, “We’re consistently posting strong results for auction sales on behalf of our Partner Agents, these figures are growing each month and when digging deeper into the data, we’re finding that auction’s popularity has increased right across the country.
“More Estate Agents are recommending auction and offering more choice to consumers, which means a greater range of properties for buyers to choose from.
“This has led to a huge increase in interest and bids, helping agents to get competitive prices for their clients – another benefit alongside auction’s fast completion timeframes.”
“The South generally remains the most active area in terms of total sales and house prices do factor into this success. However, alongside this, we’ve partnered with more agents, who are selling more homes via auction than ever before.
“What our data shows is that auction is working across market conditions.”