As the landlord exodus continues it appears more are using auctions to dispose of their investments.

Activity is up by over a third and the Essential Information Group (EIG) says 4,008 lots were offered across the UK during June.

This was a 35.3% increase on the same month last year. 

Sales rose by 31.3%, while the total value of property rose precisely a third to £519.7m.

The strongest regions were the South West and Yorkshire and the Humber, while London also witnessed a strong quarter with both sales volumes and funds raised increasing over 20%.

EIG managing director David Sanderson says: “Overall, the auction market continues to build on the momentum seen throughout the first half of the year. 

“While higher stock levels are continuing to place some pressure on success rates, the increase in activity could also reflect landlords reviewing their portfolios following the introduction of the Renters Rights Act in May. 

“As the market moves into the summer period, activity levels remain healthy, supported by a steady flow of stock and sustained buyer demand.”

Stuart Collar-Brown – president of the auction wing of Propertymark – says the figures demonstrate that buyers and sellers continued to value the certainty auctions provide during uncertain market conditions.