Property auctions have more appeal

Homeowners considering whether to move or improve may be interested to hear buyers may prefer to pick up property at auction rather than through estate agents.

This is the opinion of Savills auction director Chris Coleman-Smith, who stated people often feel "messed around" by housing professionals.

People looking for more space usually face two options – move to a larger property, or extend their current one with something like a conservatory or loft conversion with roof light.

Recent Countrywide Property Auctions statistics showed 18 per cent of homes put up for sale did not sell successfully, while 78 per cent of those that did so failed to achieve more than their guide price.

Despite this, Mr Coleman-Smith highlighted an improvement from "the pits" of the final quarter of 2008.

"From this year onwards, money is really still difficult [to access] but there has been loads of people out there with cash," he said.

Recent Essential Information Group figures showed 73 per cent of properties going to auction in July sold, compared to 71 per cent in June.