Over the past decade, the UK property auction market has undergone a transformation that few could have predicted. From hotel and stadiums filled with developers and investors waving paddles to slick, digitised platforms accessible from your mobile phone, the evolution has been both rapid and revolutionary. Auctions are no longer the realm of distressed stock or cash-only investors—they are increasingly becoming a preferred route to market across a broad swath of the UK property sector.
The Digital Tipping Point
The transition from in-room to online auctions began in earnest around 2014, but it wasn’t until the pandemic that the tipping point was reached. According to the EIG Q2 2025 report, in-room auctions represented over 25,000 lot sales in 2015. Fast-forward to 2024, and they now account for just 11% of total sales. In their place, digital formats have flourished:
- 52% of auctions in 2024 were conducted entirely online, with no physical attendance option.
- 37% were livestreamed auctions, combining the theatre of a live auctioneer with remote participation.
This rapid transition is more than just a change in format. It has democratised access. Investors no longer need to take a day off to travel to London or Manchester. Instead, they can register, conduct due diligence, and bid on properties across the UK from the comfort of their own home—or even from abroad.
Why Online Auctions Work
The success of digital auctions isn’t solely a matter of convenience. Several key drivers have underpinned this growth:
◆ Transparency: Online bidding platforms log every bid, with precise timestamps and bidder IDs. This reduces suspicion and increases trust in the process.
◆ Speed: Many auctioneers now offer 14-day or 28-day completion times. When combined with pre-loaded legal packs and online registration, transactions can proceed quickly and efficiently.
◆ Wider Reach: Vendors benefit from a broader buyer pool, including inter-national investors and regional buyers looking outside their home market.
◆ Cost Efficiency: Without the need to hire rooms or staff physical venues, auctioneers can run more frequent auctions with smaller lot sizes.
