Growing use of modern method auctions is increasing the focus on speed and certainty, with purchases through the route rising by 14.5% year on year.
The figures are relevant to the auction finance market, which forms part of bridging finance, because modern method auction buyers must complete their purchases within a fixed timescale.
Data from Lomond shows that a modern method auction transaction must complete within 56 days once the price has been agreed. Sales through other methods take an average of 98 days, making modern auction transactions about 43% quicker.
Total completions through modern method auctions increased by 9.4% year on year, according to the estate and lettings agency network.
Modern method auctions are conducted online over a longer period than traditional auctions, providing greater flexibility for buyers and sellers while retaining a defined completion deadline.
Regional figures indicate particularly strong activity in Yorkshire and Manchester. The number of Yorkshire properties offered for sale by auction rose by 25% year on year in the first quarter of 2026.
Manchester recorded a 13.6% annual increase in auction completions.
Paul Clarke, chief revenue officer for the North West and Midlands at Lomond, says: “Auction sales are becoming an increasingly attractive option for vendors seeking greater speed and certainty.
“There’s been a misconception previously that auction sales are for properties that need serious renovations, but this is most certainly not always the case.
“As transaction timelines continue to lengthen across the wider housing market, auctions offer a route to a quicker, more secure sale, helping to explain the growing appetite we’re seeing across a number of our regional brands.”
