Modern Method of Auction: market leader claims record...

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21 October 2020

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Modern Method of Auction: market leader claims record month

Online auction service Iamsold secured £52.7m in total for vendors in September, an increase of 16 per cent on the same period last year.

During the month, 350 properties were sold via MMA and 3,563 bids were made – the highest number of monthly bids so far this year.

There was also a nine per cent rise in average sale price for the month compared to September 2019.

Managing director Jamie Cooke believes the uplift isn’t just as a result of the buoyant market, but through a broader spectrum of properties being sold via MMA.

“Vendors are taking advantage of the certainty of sale that MMA brings. We are seeing more adoption within our network in the southern regions, and across the UK agents are experiencing more interest from vendors with properties in the higher price brackets.

“All of this is contributing to the increase in capital value, average sale price and volume of bids.

“September was also a record-breaking month of listings for our business, and the market is still very active heading into the autumn months. This period is typically a very busy time for us supporting our partner agents as people rush to buy and sell properties ahead of Christmas and the New Year, so we anticipate these trends to continue into the months ahead.”