The Success Rate of Property Auctions: A Comprehensive Analysis
Property auctions have become an increasingly popular method for buying and selling properties. They offer a fast, efficient, and transparent process that can be highly beneficial for both buyers and sellers. But what is the success rate of property auctions? Let’s delve into the data to find out.
The Rising Success Rate of Property Auctions
The success rate of property auctions has been on a steady rise over the years. In 2008, the success rate was around 60%12. Fast forward to 2024, and the success rate has climbed to almost 80%123. This increase demonstrates the growing effectiveness and popularity of property auctions.
The Volume of Properties Sold at Auctions
Every year, around 18,000-20,000 residential properties are sold by auction1. This accounts for approximately 2.2% of total home sales1. While this percentage might seem small, it’s important to remember that property auctions are just one of many methods available for selling properties.
Why Choose Property Auctions?
There are several reasons why sellers choose property auctions. Here are the top three benefits2:
- High Success Rate: As mentioned earlier, property auctions have a high success rate of around 78%2.
- Speed: An auction sale can be completed in as little as 7-8 weeks2.
- Certainty: Sales at auctions are legally binding, meaning less than 1% of auction sales fall through2.
Conclusion
Property auctions have proven to be a successful method for selling properties. With a high success rate, quick turnaround, and legal certainty, it’s no wonder more and more sellers are turning to auctions.
If you’re considering selling your property, why not consider One Auction? With our expertise and commitment, we can help you navigate the auction process for a successful sale. Contact us today to start your property auction journey with One Auction.
Call: 0330 043 3032
Email: info@oneauction.co.uk
Visit: www.oneauction.co.uk
