House purchases through modern method auctions increased by 14.5% year on year as buyers and sellers sought faster transactions, according to Lomond.

Data from the estate and lettings agency network showed that modern method auction sales completed in an average of 56 days after the price was agreed, compared with 98 days for homes sold through other routes.

This made the auction process about 43% quicker than conventional sales methods. Total completions involving modern method auctions also rose by 9.4% year on year.

Unlike a traditional property auction, the modern method is conducted online over a longer period, giving buyers and sellers more flexibility. Once a price has been agreed, the transaction must complete within 56 days.

Lomond said the figures indicated that certainty of sale was becoming more important as lengthy transaction times continued to affect buyers and sellers in the residential market.

Growth was particularly marked in Yorkshire and Manchester. The number of Yorkshire properties offered for sale by auction increased by 25% year on year in the first quarter of 2026.

In Manchester, auction completions rose by 13.6% compared with the previous year.

ATTRACTIVE OPTION

Paul Clarke, chief revenue officer for the North West and Midlands at Lomond, said: “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.”