Blog | Auction | Residential Auction | The Property Market

The rise of the £1M lot

Published : 16/10/2026 by Jimmy Bruce

In recent years, selling property via public auction has experienced a notable rise in popularity across the UK, evolving from a predominantly investor sales channel into a mainstream and widely accepted approach for the wider market. This shift has been driven by a combination of economic conditions, technological advancements and changing perceptions among both buyers and sellers.

One of the clearest indicators of this growth is the increase in auction activity. Recent data from Essential Information Group shows that property auction sales have been steadily increasing throughout the UK:

Alongside broader market trends, Allsop’s residential auction results illustrate significant growth in both total value and high-value sales, over a five-year period:

Key insights:

Total Raised has surged by 70%, reflecting both stronger bidding and larger lot values.
‘Lots Sold’ has increased by nearly 45%, showing a robust rise in market activity and investor participation.
High-value lots (£1M+) have more than doubled, up 143.6%, indicating strong demand for premium properties.

These results, in combination with the wider market data showing a nearly 39% increase in UK auction sales over five years, reinforce the picture of a resilient and expanding property auction sector. Allsop’s performance demonstrates how leading auction houses continue to attract high levels of investment, both in volume and in high-value properties.

A key factor behind this rise is the demand for speed and certainty. Traditional private treaty sales in the UK are often criticised for being slow and prone to collapse, with transactions taking months and frequently falling through. In contrast, auctions offer a fixed timeline, with exchange of contracts typically occurring immediately upon a successful bid. This “time-certain” nature has become particularly attractive in an uncertain economic climate, where sellers may need to move quickly due to financial pressures, relocation or other circumstances.

Another important driver is the increasing transparency of the auction process. Competitive bidding creates a clear market-driven price, reducing ambiguity and negotiation delays. Buyers can see exactly what others are willing to pay, while sellers benefit from a more open and decisive sales environment. As a result, auctions are no longer viewed solely as a route for distressed or unusual properties, but as a viable option for a wide range of residential and commercial assets.

The growth of live streamed online auctions has also played a transformative role. Digital platforms have made auctions more accessible, allowing participants to bid remotely and increasing the pool of potential buyers. This digital shift, accelerated by the COVID-19 pandemic, has helped modernise the auction process and attract a new generation of investors and homeowners.

Finally, broader market conditions have contributed to the trend. Higher interest rates, stricter lending and fluctuating house prices have encouraged both investors and homeowners to seek quicker, more reliable sales routes. Auctions provide a compelling alternative in a market where delays and uncertainty can be costly.

In conclusion, the rise of the property auction method reflects a fundamental shift in how property is bought and sold. With advantages such as speed, transparency and increasing digital accessibility, auctions have become an integral part of the modern UK property market rather than a secondary option.