A guide to buying property at auction
The latest data from Rightmove shows that average UK house prices hit £371,158 in October, whilst we have discovered that the average residential property sale price at auction was £164,110.
The number of properties available at auction is increasing too.
In October there were 2,400 residential properties available at auction, up 23.6% year-on-year, with 1,669 lots selling, up 12% y-on-y. And as a result of more homeowners being unable to meet their mortgage payments, repossessions are a worryingly increasing trend that's set to continue into 2023. With lenders looking to offset their assets, there will be even more properties available at auction.
But how do you buy a property at auction? Check out our guide to show you how.
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