Property auctions are no longer just for "doer-uppers"

At First for Auctions, that shift is translating into strong results. Across August and September 2025, the team achieved an 82% sales rate, with total sales exceeding £19m. In September alone, sale prices averaged 17% above guide. Importantly, these results are not limited to distressed stock. Mortgageable, ready to move into homes, the type that would typically sell via an estate agent, are performing particularly well when priced and marketed correctly.

Daniel Gale, Head of Auctions at First for Auctions, commented, "Auctions thrive on realism. Sellers want certainty, and buyers want clarity, so both sides are taking a pragmatic approach."

What's the appeal of auctions? The pros and cons…

Advantages for sellers

The biggest benefits are speed and certainty. If you need to move quickly, an auction can eliminate the two major concerns of a traditional sale: waiting for a buyer and the risk that the sale might fall through.

• It can take as little as four weeks from instructing the auction company to your property going under the hammer, compared to an average of two to three months' marketing via an estate agent before an acceptable offer is made.

• Contracts are exchanged on auction day, and the buyer pays a non-refundable deposit, usually 10%.

• The property is 'sold as seen' – buyers are not bidding subject to contract or survey - so there is no chance of later price or contract negotiation.

• Buyers' bids are made publicly, providing a high level of transparency and competition.

Potential downsides

• There is a limited timeframe for marketing your property, and it's to a smaller pool of buyers. On the other hand, you know that all those making bids are highly motivated and able to proceed to exchange on the day.

• There is the risk that you might get less than if you were prepared to wait for a better price on the open market.

• There may be a catalogue entry fee for listing your property.

Other things to know about selling property at auction

• You set a confidential reserve price, ensuring the property won't sell for less than you're prepared to accept.

• Marketing is very similar to a high-street estate agency sale, including quality photography, virtual tours and in-person viewings.

• The overall cost is broadly comparable to traditional selling.

• Your conveyancer must prepare a legal pack, which will be available to buyers in advance.
  This typically includes:
  - Title Deeds
  - Land Registry and local searches
  - Property information and fixtures & fittings forms
  - Planning documentation
  - Conditions of sale (e.g. completion date, overage clauses)
  - Completion usually takes place 4–6 weeks after the auction.

Daniel Gale, Head of Auctions, First for Auctions, part of LRG.