Property Auction Insights
June 2025
Over the past decade, the property auction landscape has undergone a transformative shift driven by rapid technological innovation. Livestreamed auctions, online-only sales, and remote bidding platforms have made auctions more accessible than ever, removing geographical barriers and attracting a wider pool of buyers and sellers. Alongside these digital advancements, we've seen a rise in conditional sales, offering an exclusivity period before exchange that allows buyers time to arrange a mortgage, carry out a survey, or complete other due diligence. Together, these developments have played a pivotal role in the sector's expansion and modernisation.
As we look ahead, the question remains: can this momentum continue? With evolving buyer expectations, further advancements in digital infrastructure, and changing market conditions, the auction industry stands at another turning point. In this edition of Property Auction Insights, we examine how far the industry has come and explore where technology and market trends may take it over the next five years.
Focus On: A Decade of Digital Transformation in Property Auctions
The last ten years have marked a period of unprecedented change in the property auction industry, driven largely by the steady integration of technology into every stage of the process. What was once a largely traditional, in-room experience has evolved into a dynamic, multi-channel marketplace, shaped by digital tools that have improved access, efficiency, and engagement. This evolution has not only modernised the auction room but also redefined how buyers and sellers interact with the process, laying the groundwork for greater flexibility and broader market participation.
Timeline of Events
The timeline of technological milestones pioneered by Essential Information Group (EIG) highlights the industry's ongoing digital transformation. Starting in 1998 with the launch of in-room auction software, EIG has continually introduced technology to enhance auction operations and user experience. Internet bidding for in-room auctions followed in 2000, allowing remote participation well before it became mainstream. The launch of Auction Passport in 2005 streamlined legal pack access, and by 2007, live broadcasting brought in-room auctions to remote audiences in real-time. The major shift came in 2014 with the introduction of fully online auctions, enabling fully digital transactions without the need for a physical venue. The rollout of online bidder registration in 2017 and the Online Auction Widget in 2020 further refined the user journey, making online participation more seamless and widely accessible.
Changing the Room: The Rise of Livestream and Online Auction Methods
This graph tells a compelling story of change in how auctions are conducted. In 2015, in-room sales dominated the landscape with over 25,000 sales, while online auctions were virtually non-existent. This dominance held until 2019, but the landscape shifted dramatically in 2020 with the onset of the COVID-19 pandemic. In-room sales plummeted to just over 4,000, while online auctions surged past 10,000, a trend that has only continued. Livestream-only sales also emerged strongly in 2020, offering a virtual bridge for auctioneers who wished to replicate the traditional room environment digitally. While there was a brief dip in 2022 as some auctioneers returned to in-room formats, the overall trend shows sustained growth in both livestream and online sales, with online transactions now firmly leading the market at nearly 20,000 sales in 2024.
Sales by Auction Method
Flexible Commitments: The Growing Role of Conditional Sales
This graph reflects a quieter but equally important evolution in the type of contracts used in property auctions. Traditionally, unconditional sales (where contracts are exchanged immediately upon the fall of the gavel) have been the standard, and they continue to account for the majority of transactions. However, conditional sales, which grant an exclusivity period allowing buyers time to arrange finance, conduct surveys, or complete due diligence, have seen notable growth. From just over 2,000 in 2015, conditional sales have more than quadrupled to exceed 9,000 by 2024. This growth reflects a diversification of the buyer base, as auctions become more accessible to private individuals and mortgage buyers, not just cash investors, helping to expand the overall reach of the auction model.
Sales by Contract Type
Focus On: The Current Landscape
As the auction industry continues to evolve, the latest data from 2024 offers valuable insight into how buyers and sellers are engaging with different methods and contract types. From the dominance of digital platforms to the growing adoption of conditional sales, these figures reveal not only where the market stands today, but also how regional preferences are shaping the auction landscape across the UK.
2024 at a Glance
The figures from 2024 highlight just how far the auction industry has evolved in recent years. Online auctions now account for the majority of sales at 52%, reflecting both the maturity of digital platforms and the shift in buyer behaviour towards convenience and flexibility. Livestream-only auctions, where auctioneers retain the traditional format in a virtual setting, make up 37% of sales, showing strong adoption from those who still value the structure of an auctioneer-led event. Meanwhile, in-room sales now represent just 11% of the market, a significant shift from a decade ago.
On the contract side, unconditional sales remain dominant at 75%, but the growth of conditional sales, now comprising 25% of all transactions, demonstrates the increasing accessibility of auctions to a broader audience. The flexibility offered by conditional contracts is opening the market to buyers who require time for financing or surveys, helping auctions compete more directly with private treaty sales.
Regional Analysis
Regional data reveals a distinct split between livestream and online auction preferences across the UK. Some areas have embraced fully online auctions as the dominant method, particularly where buyer demand spans a wide geographical area and speed of transaction is prioritised. In contrast, other regions have seen livestream auctions retain a strong presence, especially where auctioneers value the ability to maintain a sense of theatre and control in a virtual but familiar format. This variation also extends to contract types, with conditional sales more common in regions where the buyer pool includes more residential purchasers or mortgage-backed buyers, while unconditional sales continue to lead in areas with high investor activity and commercial stock. These regional nuances underline the importance of a flexible, multi-channel strategy in today's auction landscape.
London
Auction Type
Contact Type
Focus on: The Next Five Years of Property Auctions
As we look toward the future of the property auction industry, data-driven forecasts provide a glimpse of how auction formats and buyer preferences may continue to evolve. These projections are based on recent growth trends, but it's important to note that the outlook remains speculative. Each year, new auctioneers join the market, others stop trading, and many change their method of sale to better suit their business model or audience. These shifting dynamics mean we could see growth beyond expectations-or declines in some areas-as the industry continues to adapt. Broader economic factors, legislative changes, and interest rate movements will also play a critical role in shaping what comes next.
Digital Dominance: Forecasting the Rise of Livestream and Online Auctions
Forecasts suggest that online auctions will continue to cement their place as the dominant method, with volumes expected to exceed those of all other formats. Livestream auctions are also projected to grow significantly, nearly tripling from their early figures and potentially becoming a close second. In contrast, in-room auctions are expected to continue their gradual decline. These projections reflect a continuing shift toward digital-first engagement, driven by the convenience, reach, and efficiency that online and livestream formats offer both buyers and auctioneers.
Auction Method Forecast
A More Inclusive Market: The Steady Rise of Conditional Sales
The proportion of conditional sales is expected to grow steadily over the next five years. While unconditional sales will remain the majority, they are forecast to grow at a slower rate, pointing to a more balanced distribution between the two contract types. This trend reflects the increasing participation of residential buyers and those needing time for due diligence-an indication that auctions are becoming more inclusive and competitive with the private treaty market.
Contract Type Forecast
With the continued refinement of digital infrastructure, implementation of AI tools and improvements to bidder registration processes, the future of property auctions looks brighter than ever. The technology advances in property auctions promise to reduce friction, improve transparency, and support better decision-making across the board.
As auctioneers and technology providers respond to changing buyer behaviours and market demands, the industry is well-positioned to grow in both scale and accessibility. While economic and legislative factors will undoubtedly play a role in shaping the market, the trajectory is clear: property auctions are evolving into a more agile, data-driven, and inclusive platform for property transactions, and we're excited for what lies ahead.
Regional Data
Every quarter we will be including regional data from the past five years, including the number of lots sold and the average sale price, and now average yield too. This allows you to track what is happening across the country, to spot trends, and see how changes in the wider market may be affecting auctions.
The data in these charts consist of all auction sales on a quarterly basis, including individual single lot sales.
Data for all unconditional auction sales.
Data for all unconditional auction sales where there is an income.
London
South East Home Counties
South West
Yorkshire & The Humber
North West
North East
West Midlands
East Midlands
East Anglia
Scotland
Wales
North West Home Counties
Northern Ireland
Regional Data Analysis
As with any part of the property market, auction activity doesn't happen in a vacuum. Broader economic factors can all impact both volume and pricing at auction. What we often see is that these changes show up in auction data before they're reflected in the wider market, making it a useful early indicator for spotting emerging trends. Tracking this data over time gives a valuable view of how different parts of the country respond to market pressures, and where opportunities may be emerging.
Closing Summary
As these insights illustrate, the evolution of the property auction industry has been nothing short of remarkable. Much of the transformation detailed above - from online bidding and digital legal packs to AI-assisted processes and live broadcasting has been the result of consistent innovation over many years. While I have been fortunate enough to play a hands-on role in developing many of the technologies that now underpin the auction sector, none of it would have been possible without the insight, collaboration, and dedication of colleagues both past and present.
This report is as much a reflection of their contributions as it is a snapshot of industry progress. The journey of modernising property auctions has always been a collective one, and I am deeply grateful for the trust placed in us by auctioneers, agents, and stakeholders across the UK.
Looking ahead, the foundations laid over the past decade will serve us well as we navigate the next chapter, it is one shaped by data, flexibility and continued innovation. I hope this report not only offers a useful lens on where we are now but also inspires confidence in where we are heading next.
If there are any topics you would like us to focus on in future releases, or you have any feedback or thoughts you would like to share, please contact us on insights@eigroup.co.uk.
PS. Our next edition will be released in September 2025, so if you are not already on our newsletter mailing list, sign up today!
Disclaimer: The figures in this newsletter are based on sales data provided to us by the auctioneers.