Residential property remains the long-term investment of choice for many Britons, illustrated by the high number of properties sold under the hammer at auction over the past couple of weeks.

More than 1,000 properties have been sold at auction so far this month, including plenty of tenanted properties, with hundreds more expected to be sold in the coming weeks, as the UK’s housing shortage continues to yield high investment opportunities.

“It is heartening to see that bricks and mortar continue to be the preferred form of investment for so many people,” said James Emson of Clive Emson Auctioneers.

He added: “With more homes needed right across Britain, it is no surprise that buyers are investing in land with development potential, particularly in urban or already expanding areas.”

Clive Emson Auctioneers sold land and property worth £17m last week, achieving an 85% sale rate after cataloguing 133 lots.

Emson continued: “Our packed February salerooms and exceptionally strong bidding show that without doubt the auction remains a hugely popular and utterly transparent method of buying and selling.”

Clive Emson’s auccess last week follows hot on the heels of a record-breaking 2017 – the most successful in the firm’s 30-year history with £160m of sales in total.