There were 50 property auctions held across the UK in August, offering a total of 776 residential lots.
Of these, 534 sold, a success rate of 68.8%.
While the figures seem small, in August last year only 449 residential lots were offered, of which 352 sold – at a higher success rate of 78.4%.
The data is from Essential Information Group.
Meanwhile, Network Auctions has announced greatly reduced prices for agents joining the organisation as it bids to expand.
There is now a one-off joining fee of £250 and an annual subscription of £1 per day, in return for an exclusive territory. Agents were previously paying around £200 a month.
A spokesman said that the network, which offers commission sharing arrangements, is now looking to recruit many more agents.
He said: “Network’s sales success rate this year, since moving to a London auction room, is circa 70% and we want to encourage more agents to look at having an auction offering and generating more lots.
“Uniquely, the Network Auctions proposition dual-brands with the local agent and so they get the marketing benefit too.”
Network Auctions’ next property will be held in central London on November 1.
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