Data released by Iamproperty shows the continued rise in the volume of high-value properties being sold via the Modern Method of Auction (MMoA), and millionaires are amongst the growing list of savvy sellers seeking out auction to maximise their home’s value.

From June 2021 to June 2022, the total capital value raised has more than doubled, increasing by 64 per cent (£108m), with a 20 per cent increase in average sale price during the same period. Alongside the high-rollers, Iamproperty’s auction service, Iamsold, is seeing a more varied range of properties sold through estate agents.

Jamie Cooke, Managing Director at Iamsold, commented, “For more than 10 years, we’ve consistently spread the message that auction isn’t just for investors looking for fixer-uppers to flip. Agents, more than 4,000 in our Partner Network, are fully embracing that too. Whilst big sales figures are always exciting the real shift comes in the variety of properties from right across the UK, being listed and sold via auction.”

The firm has also reached a landmark milestone, selling over £1bn worth of property via MMoA in a 12-month period for the first time.