Online Auction Index: Q4 2023

Welcome to our Q4 Online Auction Index – our market-leading quarterly focus on the UK residential online auction market.


Q4 2023 Online Auction Index

Our fourth and final index of 2023 looks at auctions’ continued resilience in the face of another challenging quarter for the property market. Despite 2023 being a turbulent year for the market and fluctuating transactional volumes, the online auction market continued to prosper, with consumers increasingly recognising auction as an alternative method of sale that can provide the speed and security they desire.

In Q4, iamproperty reached a significant milestone as it was confirmed that in 2023 our auction sales made up 1% of all property transactions in the UK. This is a huge step for auction and a strong position to begin 2024.


Regional success

  • All
  • North West
  • North East
  • Midlands
  • South
  • South West
  • South East
  • Wales
Highest sale price
Sold for £595,000
Gravel Lane, Wilmslow
Reeds Rains, Wilmslow

• 4 Bedrooms
• Detached
• 9 Viewings
• 5 Bids
Most bids on property
43 Bids
Bishopton, Stockton-on-tees
Smith & Friends Estate Agents Ltd, Stockton

• 4 Bedrooms
• Terrace Cottage
• 13 Viewings
• 39,500 over Reserve Price
Highest sale price
Sold for £800,000
Driffold, Sutton Coldfield
Green & Company, Four Oaks

• 4 Bedrooms
• Detached
• 1 Viewings
• 1 Bid
Most bids on property
155 bids
Cowley Road, London
Barnard Marcus, East Sheen

• 3 Bedrooms
• Apartment
• 44 Viewings
• £130,500 over Reserve Price
Highest sale price
Sold for £1,075,000
Frances Road, Windsor
Hamptons, Windsor

• 4 Bedrooms
• Detached
• 10 Viewings
• 4 Bids
Most bids on property
60 bids
Market Street, Bristol
Allen and Harris, Clifton

• 1 Bedroom
• Apartment
• 16 Viewings
• £16,500 over Reserve Price
Highest sale price
Sold for £425,000
Rhydgarnwen Newydd, Cardigan
John Francis, Cardigan

• 3 Bedrooms
• Character property
• 5 Viewings
• 1 Bid

Modern Method of Auction properties make up around 30-40% of our stock levels at all times throughout the year, so they play a huge role in our business. In 2023, we broke many records as Q4 saw us achieve our busiest month, with highest net sales.

Lauren Kelly, Senior Branch Partner, Wards Snodland

Q4 Online Auction Index Website Asset - Consumer section

Consumer viewpoint

In Q4 interest rates began to drop, causing market pressures to ease. As a result, consumer confidence and buying power both increased, with auction serving as a quick and secure method of sale for many, giving our Partner Agents a welcome boost in the final quarter of the year.

Despite some apprehension from the property market as we begin 2024, there are also many positives. Wages have continued to grow above inflation, cost of living pressures are starting to ease, and consumer confidence in auction has never been higher. This leaves consumers with more options and power when it comes to buying or selling and creates a highly positive outlook for auction as we enter the year ahead.

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Jamie’s predictions for Q1

An overview of trends Jamie expects to see in the auction market during the first few months of the year.
Continued steady growth

Focus on what you can control

Auction is a growing sector and this year it’s going to continue to grow. The key thing for all agents in Q1 will be to focus on what you can control. Focus on your business, focus on ensuring that when you’re with clients you give them choice. If you’re giving consumers choice, you’re going to win more listings. Use auction as a listing tool and as a differentiator to help you to stand out from your competition.

Falling interest rates

More market activity

I think it’s going to be an interesting quarter and already there’s a lot of noise around interest rates set to come down gradually over the first half of the year. Of course, this will be a huge benefit to consumers and support more activity in the market. It’s also worth being aware that it could see some people holding out during Q1 to see how low the rates go. So it’s likely that there will be a positive impact in the first quarter, but with an even stronger spring market.


Potential general election

Caution in the market

We know there’s a chance of a general election in the second half of the year, with the possibility of a change in government. Previously we’ve seen that this can bring some hesitance to the market, with a slight stall in transactions whilst people wait to see what the outcome of the election will be and what that means, particularly for the property industry. We may see a small group of consumers carry this caution in Q1, until a decision around the election is made, but overall there’s potential for this to be a strong year, particularly as we move past these points.

View our Q4 Online Auction Index

View our Q4 Online Auction Index

Our Online Auction Index is the first of its kind for the UK, released at a time when the Modern Method of Auction market has never been more active.

View full Index
View our Q4 Online Auction Index

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