Will the housing market benefit from online auctions?

It has been reported this week that property auction house Allsop is planning the country’s first ever online-only auction for new build homes, writes Development Specialist Richard Carr.

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Richard Carr

Will property auctions succeed online?

The internet has transformed the way that the UK shops. Virtually anything that is consumable can be purchased online, but will an auction style method work for the property market?

On Wednesday 10 June, newly built flats on the outskirts of London will go under the hammer for exactly 24 hours and 5 minutes.

Allsop’s residential auction partner Gary Murphy, explained: “This new service provides a superior route of sale for new properties and will co-exist harmoniously alongside our traditional ballroom auctions.”

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