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Introducing our new Online Auction Index - a quarterly focus on the UK residential Modern Method of Auction market and a first of its kind for the UK property market.
JAMIE COOKE
Co-founder
JAMIE COOKE
Co-founder
Our Online Auction Index is a first of its kind for the UK property market, and we’re launching this at a time when the Modern Method of Auction (MMoA) market has never been more active.
Each quarter the Index will evaluate the online auction market and set out predictions for the quarter ahead. It’ll also look at the great results auction is getting for Estate Agents and vendors, review performance and growth across the regions and explore consumer trends. It will be full of useful data to help agents keep their finger on the pulse of this growing market and support them in winning new instructions, by showing the success that vendors can enjoy with auction.
We hope you enjoy this first edition which evaluates January to March 2023.
"We’ve had a brilliant start to the year with auction. Our auction sale rate typically sits between 5-10% but has risen to 10-15% over the quarter, so we’re really pleased with that. Having the auction service has been a real benefit while the market has been tight, helping to push through sales and with that comes 7-day payment of our fees which is an added bonus. iamproperty does a lot of the work, which takes the pressure off our team while there’s lots to do. It’s a great partnership."
“The Modern Method of Auction (MMoA) has performed really well for us this quarter. The market has been tough since the interest rate rises which we’re still seeing now, and MMoA has been an asset. We’ve seen more motivation from vendors to sell via MMoA, who’ve understood that they needed speed and security if they didn’t want to take any chances with timescales. There’s been some great results, in particular with two properties in Leeds and Harrogate that received over 100 bids."
“This quarter has been a very strong one. The end of 2022 was a disaster for the property market, and we saw sales slowdown drastically, so auction has been a godsend because of the speed and security. We offer auction as part of our general pitch to clients and 11% of our sales now go through auction. Because of the market conditions it’s a more viable option than ever and our clients like to have the option there – people who are only being offered Private Treaty are missing out.”
The UK’s largest residential auction provider and pioneer of the Modern Method of Auction
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Find out moreCraig Whitney, Director at Stephenson Browne Estate Agents has seen remarkable success using the iamproperty Marketing Toolkit.
Read our Q4 Online Auction Index – our market-leading quarterly focus on the UK residential online auction market.
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Q4 Online Auction Index
Our market-leading quarterly focus on the UK residential online Auction market.
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