Auction volumes slide amid economic and retail woes

The volume of properties sold at auction continued to fall last month amid mounting fears over the economic effect of a no-deal Brexit and continued gloom from high street retailers.

According to auctions data specialist Essential Information Group, the total amount raised in UK property auctions in October 2019 stood at £410.3m, down by 14.7% on the same period a year earlier.

Although the number of auctions held during October stood at 116 – just one fewer than the number held in October 2018 – the total number of lots offered fell by 7.2% while the total