Snap up a bargain at a property auction

It's a buyer’s market at today's property auctions. But you still need to do your due diligence before bidding.

A property auction © Alamy

Buying at a property auction means you can close the deal much faster
(Image credit: A property auction © Alamy)

You might not realise it from the popularity of shows such as Homes Under the Hammer, but property auctions are suffering a slowdown. In the last year, £2.7bn-worth of residential property was sold through auctions in the UK a sizeable figure, but down almost 14% on the previous 12 months due to fears about Brexit and other economic uncertainties. That downturn means it's very much a buyer's market right now, says Chris Coleman-Smith, head of auctions at property company Savills. Three or four years ago, the boot was on the other foot.

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